EXHIBIT 12.5 | ||||||||||||||||
Page 1 | ||||||||||||||||
JERSEY CENTRAL POWER & LIGHT COMPANY | ||||||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||
(Dollars in thousands) | ||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||||||||||
Income before extraordinary items | $ | 248,357 | $ | 64,277 | $ | 107,626 | $ | 182,986 | $ | 190,607 | ||||||
Interest and other charges, before reduction for amounts capitalized | 101,647 | 96,290 | 86,111 | 85,519 | 94,035 | |||||||||||
Provision for income taxes | 184,111 | 48,609 | 97,205 | 135,846 | 146,731 | |||||||||||
Interest element of rentals charged to income (a) | 3,239 | 5,374 | 7,589 | 7,091 | 8,838 | |||||||||||
Earnings as defined | $ | 537,354 | $ | 214,550 | $ | 298,531 | $ | 411,442 | $ | 440,211 | ||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | ||||||||||||||||
Interest on long-term debt | $ | 92,314 | $ | 87,681 | $ | 80,840 | $ | 74,929 | $ | 77,658 | ||||||
Other interest expense | (1,361 | ) | 3,262 | 5,271 | 10,590 | 16,377 | ||||||||||
Subsidiary's preferred stock dividend requirements | 10,694 | 5,347 | - | - | - | |||||||||||
Interest element of rentals charged to income (a) | 3,239 | 5,374 | 7,589 | 7,091 | 8,838 | |||||||||||
Fixed charges as defined | $ | 104,886 | $ | 101,664 | $ | 93,700 | $ | 92,610 | $ | 102,873 | ||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 5.12 | 2.11 | 3.19 | 4.44 | 4.28 | |||||||||||
(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 12.5 | ||||||||||||||||
Page 2 | ||||||||||||||||
JERSEY CENTRAL POWER & LIGHT COMPANY | ||||||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS | ||||||||||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||
(Dollars in thousands) | ||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||||||||||
Income before extraordinary items | $ | 248,357 | $ | 64,277 | $ | 107,626 | $ | 182,986 | $ | 190,607 | ||||||
Interest and other charges, before reduction for amounts capitalized | 101,647 | 96,290 | 86,111 | 85,519 | 94,035 | |||||||||||
Provision for income taxes | 184,111 | 48,609 | 97,205 | 135,846 | 146,731 | |||||||||||
Interest element of rentals charged to income (a) | 3,239 | 5,374 | 7,589 | 7,091 | 8,838 | |||||||||||
Earnings as defined | $ | 537,354 | $ | 214,550 | $ | 298,531 | $ | 411,442 | $ | 440,211 | ||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS | ||||||||||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||||||||||
(PRE-INCOME TAX BASIS): | ||||||||||||||||
Interest on long-term debt | $ | 92,314 | $ | 87,681 | $ | 80,840 | $ | 74,929 | $ | 77,658 | ||||||
Other interest expense | (1,361 | ) | 3,262 | 5,271 | 10,590 | 16,377 | ||||||||||
Preferred stock dividend requirements | 9,230 | 5,235 | 500 | 500 | 1,018 | |||||||||||
Adjustments to preferred stock dividends | ||||||||||||||||
to state on a pre-income tax basis | (1,085 | ) | (85 | ) | 452 | 371 | 784 | |||||||||
Interest element of rentals charged to income (a) | 3,239 | 5,374 | 7,589 | 7,091 | 8,838 | |||||||||||
Fixed charges as defined plus preferred stock | ||||||||||||||||
dividend requirements (pre-income tax basis) | $ | 102,337 | $ | 101,467 | $ | 94,652 | $ | 93,481 | $ | 104,675 | ||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||||||||||
(PRE-INCOME TAX BASIS) | 5.25 | 2.11 | 3.15 | 4.40 | 4.21 | |||||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |