EXHIBIT 12.3
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OHIO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | ||||||||||||||||||||
| 2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||||||||||||||
| Income before extraordinary items | $ | 212,384 | $ | 197,830 | $ | 212,359 | $ | 122,434 | $ | 157,240 | ||||||||||
| Interest and other charges, before reduction for amounts capitalized and deferred | 90,952 | 83,343 | 75,058 | 90,669 | 88,588 | |||||||||||||||
| Provision for income taxes | 123,343 | 101,273 | 98,584 | 66,186 | 81,972 | |||||||||||||||
| Interest element of rentals charged to income (a) | 89,354 | 79,954 | 74,962 | 69,597 | 63,133 | |||||||||||||||
| Earnings as defined | $ | 516,033 | $ | 462,400 | $ | 460,963 | $ | 348,886 | $ | 390,933 | ||||||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | ||||||||||||||||||||
| Interest before reduction for amounts capitalized and deferred | $ | 90,356 | $ | 83,343 | $ | 75,058 | $ | 90,669 | $ | 88,588 | ||||||||||
| Subsidiaries’ preferred stock dividend requirements | 597 | — | — | — | — | |||||||||||||||
| Adjustments to subsidiaries’ preferred stock dividends to state on a pre-income tax basis | 651 | — | — | — | — | |||||||||||||||
| Interest element of rentals charged to income (a) | 89,354 | 79,954 | 74,962 | 69,597 | 63,133 | |||||||||||||||
| Fixed charges as defined | $ | 180,958 | $ | 163,297 | $ | 150,020 | $ | 160,266 | $ | 151,721 | ||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 2.85 | 2.83 | 3.07 | 2.18 | 2.58 | |||||||||||||||
| (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 12.3
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Page 2
OHIO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
| Year Ended December 31, | ||||||||||||||||||||
| 2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||||||||||||||
| Income before extraordinary items | $ | 212,384 | $ | 197,830 | $ | 212,359 | $ | 122,434 | $ | 157,240 | ||||||||||
| Interest and other charges, before reduction for amounts capitalized and deferred | 90,952 | 83,343 | 75,058 | 90,669 | 88,588 | |||||||||||||||
| Provision for income taxes | 123,343 | 101,273 | 98,584 | 66,186 | 81,972 | |||||||||||||||
| Interest element of rentals charged to income (a) | 89,354 | 79,954 | 74,962 | 69,597 | 63,133 | |||||||||||||||
| Earnings as defined | $ | 516,033 | $ | 462,400 | $ | 460,963 | $ | 348,886 | $ | 390,933 | ||||||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS): | ||||||||||||||||||||
| Interest before reduction for amounts capitalized and deferred | $ | 90,356 | $ | 83,343 | $ | 75,058 | $ | 90,669 | $ | 88,588 | ||||||||||
| Preferred stock dividend requirements | 5,149 | — | — | — | — | |||||||||||||||
| Adjustments to preferred stock dividends to state on a pre-income tax basis | 3,263 | — | — | — | — | |||||||||||||||
| Interest element of rentals charged to income (a) | 89,354 | 79,954 | 74,962 | 69,597 | 63,133 | |||||||||||||||
| Fixed charges as defined plus preferred stock dividend requirements (pre-income tax basis) | $ | 188,122 | $ | 163,297 | $ | 150,020 | $ | 160,266 | $ | 151,721 | ||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) | 2.74 | 2.83 | 3.07 | 2.18 | 2.58 | |||||||||||||||
| (a) | Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |