EXHIBIT 12
FIRSTENERGY CORP. | |||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2007 | 2006 | ||||||||
(Dollars in thousands) | |||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||
| Income before extraordinary items | $ | 1,040,868 | $ | 983,743 | |||||
| Interest and other charges, before reduction for amounts capitalized | 593,091 | 533,356 | |||||||
| Provision for income taxes | 695,467 | 624,887 | |||||||
| Interest element of rentals charged to income (a) | 146,390 | 170,065 | |||||||
| Earnings as defined | $ | 2,475,816 | $ | 2,312,051 | |||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||
| Interest expense | $ | 593,091 | $ | 527,569 | |||||
| Subsidiaries’ preferred stock dividend requirements | - | 5,787 | |||||||
| Adjustments to subsidiaries’ preferred stock dividends | |||||||||
| to state on a pre-income tax basis | - | 3,676 | |||||||
| Interest element of rentals charged to income (a) | 146,390 | 170,065 | |||||||
| Fixed charges as defined | $ | 739,481 | $ | 707,097 | |||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 3.35 | 3.27 | |||||||
| ____________________ | |||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest | |||||||||
| element can be determined which we believe represents an appropriate interest factor. | |||||||||
EXHIBIT 12
FIRSTENERGY SOLUTIONS CORP. | |||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2007 | 2006 | ||||||||
(Dollars in Thousands) | |||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||
| Income before extraordinary items | $ | 408,684 | $ | 311,956 | |||||
| Interest and other charges, before reduction for amounts capitalized | 132,749 | 140,544 | |||||||
| Provision for income taxes | 243,736 | 184,572 | |||||||
| Interest element of rentals charged to income (a) | 1,092 | 1,168 | |||||||
| Earnings as defined | $ | 786,261 | $ | 638,240 | |||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||
| Interest expense | $ | 132,749 | $ | 140,544 | |||||
| Interest element of rentals charged to income (a) | 1,092 | 1,168 | |||||||
| Fixed charges as defined | $ | 133,841 | $ | 141,712 | |||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 5.87 | 4.50 | |||||||
| ____________________ | |||||||||
| (a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest | |||||||||
| element can be determined which we believe represents an appropriate interest factor. | |||||||||
EXHIBIT 12
OHIO EDISON COMPANY | |||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2007 | 2006 | ||||||||
(Dollars in thousands) | |||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||
| Income before extraordinary items | $ | 147,862 | $ | 166,536 | |||||
| Interest and other charges, before reduction for amounts capitalized | 62,749 | 60,662 | |||||||
| Provision for income taxes | 79,074 | 91,239 | |||||||
| Interest element of rentals charged to income (a) | 60,370 | 67,064 | |||||||
| Earnings as defined | $ | 350,055 | $ | 385,501 | |||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||
| Interest on long-term debt | $ | 54,493 | $ | 49,280 | |||||
| Other interest expense | 8,256 | 10,914 | |||||||
| Subsidiaries’ preferred stock dividend requirements | - | 467 | |||||||
| Adjustments to subsidiaries’ preferred stock dividends | |||||||||
| to state on a pre-income tax basis | - | 291 | |||||||
| Interest element of rentals charged to income (a) | 60,370 | 67,064 | |||||||
| Fixed charges as defined | $ | 123,119 | $ | 128,016 | |||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 2.84 | 3.01 | |||||||
| ____________________ | |||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest | |||||||||
| element can be determined which we believe represents an appropriate interest factor. | |||||||||
EXHIBIT 12
JERSEY CENTRAL POWER & LIGHT COMPANY | |||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2007 | 2006 | ||||||||
(Dollars in thousands) | |||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||
| Income before extraordinary items | $ | 163,957 | $ | 153,355 | |||||
| Interest and other charges, before reduction for amounts capitalized | 79,467 | 70,092 | |||||||
| Provision for income taxes | 118,637 | 120,506 | |||||||
| Interest element of rentals charged to income (a) | 6,143 | 6,635 | |||||||
| Earnings as defined | $ | 368,204 | $ | 350,588 | |||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||
| Interest on long-term debt | $ | 65,949 | $ | 56,612 | |||||
| Other interest expense | 13,518 | 13,480 | |||||||
| Interest element of rentals charged to income (a) | 6,143 | 6,635 | |||||||
| Fixed charges as defined | $ | 85,610 | $ | 76,727 | |||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 4.30 | 4.57 | |||||||
| ____________________ | |||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest | |||||||||
| element can be determined which we believe represents an appropriate interest factor. | |||||||||
EXHIBIT 12
METROPOLITAN EDISON COMPANY | |||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2007 | 2006 | ||||||||
(Dollars in thousands) | |||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||
| Income before extraordinary items | $ | 75,797 | $ | 82,981 | |||||
| Interest and other charges, before reduction for amounts capitalized | 38,471 | 35,546 | |||||||
| Provision for income taxes | 53,145 | 55,390 | |||||||
| Interest element of rentals charged to income (a) | 1,509 | 1,324 | |||||||
| Earnings as defined | $ | 168,922 | $ | 175,241 | |||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||
| Interest on long-term debt | $ | 21,032 | $ | 25,987 | |||||
| Other interest expense | 17,439 | 9,559 | |||||||
| Interest element of rentals charged to income (a) | 1,509 | 1,324 | |||||||
| Fixed charges as defined | $ | 39,980 | $ | 36,870 | |||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 4.23 | 4.75 | |||||||
| ____________________ | |||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest | |||||||||
| element can be determined which we believe represents an appropriate interest factor. | |||||||||
EXHIBIT 12
PENNSYLVANIA ELECTRIC COMPANY | |||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2007 | 2006 | ||||||||
(Dollars in thousands) | |||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||
| Income before extraordinary items | $ | 74,237 | $ | 56,666 | |||||
| Interest and other charges, before reduction for amounts capitalized | 38,426 | 33,974 | |||||||
| Provision for income taxes | 49,025 | 39,251 | |||||||
| Interest element of rentals charged to income (a) | 2,402 | 2,387 | |||||||
| Earnings as defined | $ | 164,090 | $ | 132,278 | |||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||
| Interest on long-term debt | $ | 22,642 | $ | 20,937 | |||||
| Other interest expense | 15,783 | 13,037 | |||||||
| Interest element of rentals charged to income (a) | 2,402 | 2,387 | |||||||
| Fixed charges as defined | $ | 40,827 | $ | 36,361 | |||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 4.02 | 3.64 | |||||||
| ____________________ | |||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest | |||||||||
| element can be determined which we believe represents an appropriate interest factor. | |||||||||