FirstEnergy (FE) 10-Q2010 Q2 Quarterly report

Filed: 3 Aug 10, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: accretion, advantage, amnesty, annum, ARO, arrive, avoid, avoided, captionedLouisiana, captionOakmont, CATR, certainty, closure, Coalition, commensurate, corrosion, Council, DCR, destructive, DFAX, divert, draft, EL, EMAAC, erroneously, Evanson, FCGO, formal, France, idle, interstate, inventory, jeopardized, leakage, Lynn, MAAC, mailed, MDPSC, month, Multi, MVP, nationwide, NBF, NOAC, Northeast, Northwest, NYSEG, PA, passage, payroll, pilot, Police, POLR, pond, pressure, PSCWV, reclamation, Reconsideration, Reform, reinstated, ReliabilityFirstand, ReliabilityFirstCorporation, ReliabilityFirstregion, ReliabilityFirststakeholder, roll, RPV, season, seasonal, Shortly, sludge, socialization, solution, stabilization, staffing, styled, susceptible, thirty, timeframe, timeline, undergo, unforced, unrelated, unsuccessful, upper, urging, VSCC, Wall, week, Westmoreland, wind, winter

Removed: accepted, accomplish, accrue, accuracy, addressed, adjust, adjusted, advocacy, agency, answer, arbitration, area, assigning, attributed, audited, authorization, averaging, Avon, award, begun, buy, Catalytic, certified, certiorari, chaired, challenged, chapter, check, clarification, cogeneration, collaborative, collectively, competition, component, conclusion, confirm, construed, Consultation, contested, Cooperative, coordinate, copy, counterclaim, create, database, dealing, decertified, decertify, declined, decreasing, deficiency, Delaware, denying, detail, directing, discharge, disclaim, discovered, Disease, disputed, earlier, economy, electronically, emerge, employer, employment, enforcing, EPACT, estimable, examine, excluded, exempt, exhaustive, experience, expire, expressed, expressly, factor, factual, field, filer, fine, foregoing, format, gradually, greatest, identifying, implied, improve, inadequately, incident, incorporation, incremental, independently, innovative, Instruction, intention, Interactive, interlocutory, intervene, interview, invest, involvement, joined, justifying, Lake, larger, leave, litigated, lost, mark, maximize, meantime, milder, modifying, monitor, moved, negatively, negotiating, nineteen, NJ, notably, noting, offsetting, opposed, opposition, panel, par, past, performed, petitioned, phase, PLR, point, postage, preceding, preliminary, prepared, presently, presiding, procured, projected, promote, proof, prudence, quarterly, range, ready, realize, receipt, recommended, reconsider, Red, region, Registry, rejected, rejecting, ReliabilityFirst, representation, resolve, resolving, responding, restoration, restored, revising, revocation, routine, safety, sample, sampling, SECA, Selective, separately, settling, shell, shift, shifting, shut, SNCR, sooner, speed, stakeholder, stamp, statute, stimulate, suggested, summit, supplemented, Telephone, terminating, throughput, timely, Unasserted, unchanged, uncontested, uniform, unjust, unknown, unplanned, unreasonable, vacate, vacating, validate, verify, vicinity, violated, virtually, Washington, Waverly, Web, winning, withdrawal, workforce, yielded

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EXHIBIT 12

FIRSTENERGY CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in millions)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	405	$	523
Interest and other charges, before reduction for amounts capitalized and deferred		421		403
Provision for income taxes		245		302
Interest element of rentals charged to income (a)		77		84


Earnings as defined	$	1,148	$	1,312


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	421	$	403
Interest element of rentals charged to income (a)		77		84


Fixed charges as defined	$	498	$	487


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.31		2.69


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.

EXHIBIT 12

FIRSTENERGY SOLUTIONS CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	213,851	$	468,083
Interest and other charges, before reduction for amounts capitalized and deferred		105,881		55,092
Provision for income taxes		113,237		261,011
Interest element of rentals charged to income (a)		46,087		48,082


Earnings as defined	$	479,056	$	832,268


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	105,881	$	55,092
Interest element of rentals charged to income (a)		46,087		48,082


Fixed charges as defined	$	151,968	$	103,174


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.15		8.07


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

EXHIBIT 12

OHIO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	73,484	$	45,276
Interest and other charges, before reduction for amounts capitalized and deferred		44,465		44,756
Provision for income taxes		31,465		20,857
Interest element of rentals charged to income (a)		32,386		35,619


Earnings as defined	$	181,800	$	146,508


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	44,465	$	44,756
Interest element of rentals charged to income (a)		32,386		35,619


Fixed charges as defined	$	76,851	$	80,375


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.37		1.82


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

EXHIBIT 12

THE CLEVELAND ELECTRIC ILLUMINATING COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	35,918	$	(57,676	)
Interest and other charges, before reduction for amounts capitalized and deferred		66,883		66,079
Provision for income taxes		19,628		(35,045	)
Interest element of rentals charged to income (a)		896		1,527


Earnings as defined	$	123,325	$	(25,115	)


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	66,883	$	66,079
Interest element of rentals charged to income (a)		896		1,527


Fixed charges as defined	$	67,779	$	67,606


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		1.82		(b	)


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

(b)		The earnings as defined in 2009 would need to increase $92,721,000 for the fixed charge ratio to be 1.0.

EXHIBIT 12

THE TOLEDO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	14,725	$	7,397
Interest and other charges, before reduction for amounts capitalized and deferred		20,942		14,795
Provision for income taxes		6,330		3,261
Interest element of rentals charged to income (a)		16,139		17,647


Earnings as defined	$	58,136	$	43,100


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	20,942	$	14,795
Interest element of rentals charged to income (a)		16,139		17,647


Fixed charges as defined	$	37,081	$	32,442


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		1.57		1.33


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

EXHIBIT 12

JERSEY CENTRAL POWER & LIGHT COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	79,119	$	65,624
Interest and other charges, before reduction for amounts capitalized and deferred		60,213		59,982
Provision for income taxes		57,051		52,399
Interest element of rentals charged to income (a)		3,283		3,740


Earnings as defined	$	199,666	$	181,745


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	60,213	$	59,982
Interest element of rentals charged to income (a)		3,283		3,740


Fixed charges as defined	$	63,496	$	63,722


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.14		2.85


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

EXHIBIT 12

METROPOLITAN EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	29,424	$	26,627
Interest and other charges, before reduction for amounts capitalized and deferred		26,775		28,122
Provision for income taxes		20,884		18,703
Interest element of rentals charged to income (a)		1,078		998


Earnings as defined	$	78,161	$	74,450


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	26,775	$	28,122
Interest element of rentals charged to income (a)		1,078		998


Fixed charges as defined	$	27,853	$	29,120


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.81		2.56


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

EXHIBIT 12

PENNSYLVANIA ELECTRIC COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


	Six Months Ended
	June 30
	2010		2009
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	30,273	$	33,511
Interest and other charges, before reduction for amounts capitalized and deferred		34,920		25,076
Provision for income taxes		22,969		23,354
Interest element of rentals charged to income (a)		1,668		1,524


Earnings as defined	$	89,830	$	83,465


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	34,920	$	25,076
Interest element of rentals charged to income (a)		1,668		1,524


Fixed charges as defined	$	36,588	$	26,600


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.46		3.14


(a)		Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

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