EXHIBIT 12
FIRSTENERGY CORP.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended June 30 | Year Ended December 31 | ||||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||||||||||||||
Net Income (Loss) | $ | (761 | ) | $ | 578 | $ | 213 | $ | 375 | $ | 755 | $ | 856 | ||||||||||||
Interest and other charges, before reduction for amounts capitalized and deferred | 577 | 1,132 | 1,073 | 1,016 | 1,001 | 1,008 | |||||||||||||||||||
Capitalized interest | (34 | ) | (68 | ) | (69 | ) | (75 | ) | (72 | ) | (70 | ) | |||||||||||||
Provision for income taxes (benefits) | 83 | 315 | (42 | ) | 195 | 545 | 566 | ||||||||||||||||||
Interest element of rentals charged to income(1) | 39 | 78 | 83 | 96 | 136 | 150 | |||||||||||||||||||
Earnings (Losses) as defined | $ | (96 | ) | $ | 2,035 | $ | 1,258 | $ | 1,607 | $ | 2,365 | $ | 2,510 | ||||||||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||||||||||||||||||
Interest before reduction for amounts capitalized and deferred | $ | 577 | $ | 1,132 | $ | 1,073 | $ | 1,016 | $ | 1,001 | $ | 1,008 | |||||||||||||
Interest element of rentals charged to income(1) | 39 | 78 | 83 | 96 | 136 | 150 | |||||||||||||||||||
Fixed charges as defined | $ | 616 | $ | 1,210 | $ | 1,156 | $ | 1,112 | $ | 1,137 | $ | 1,158 | |||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES(2) | N/A | 1.68 | 1.09 | 1.45 | 2.08 | 2.17 |
(1) | Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
(2) | The ratio of earnings to fixed charges was negative for the six months ended June 30, 2016. Additional earnings of $712 million would be needed to have a one-to-one ratio of earnings to fixed charges. |
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