Exhibit 12
Jersey Central Power & Light Company
Consolidated Ratio of Earnings to Fixed Charges
Jan. 1 - Nov. 6, 2001 | Nov. 7 - Dec. 31, 2001 | Year Ended December 31, | Six Months June 30, 2006 | |||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | |||||||||||||||||||||
Restated | Restated | Restated | Restated | Restated | ||||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||||
Earnings as Defined in Regulation S-K | ||||||||||||||||||||||||
Income before extraordinary items | $ | 31,560 | $ | 29,525 | $ | 248,357 | $ | 64,277 | $ | 107,626 | $ | 182,986 | $ | 73,986 | ||||||||||
Interest and other charges, before reduction for amounts capitalized | 96,836 | 17,116 | 101,647 | 96,290 | 86,111 | 85,519 | 45,585 | |||||||||||||||||
Provision for income taxes | 1,850 | 20,420 | 184,111 | 48,609 | 97,205 | 135,846 | 62,190 | |||||||||||||||||
Interest element of rentals charged to income (a) | 3,913 | 124 | 3,239 | 5,374 | 7,589 | 7,091 | 3,474 | |||||||||||||||||
Earnings as defined | $ | 134,159 | $ | 67,185 | $ | 537,354 | $ | 214,550 | $ | 298,531 | $ | 411,442 | $ | 185,235 | ||||||||||
Fixed Charges as Defined in Regulation S-K | ||||||||||||||||||||||||
Interest on long-term debt | $ | 77,205 | $ | 14,234 | $ | 92,314 | $ | 87,681 | $ | 80,840 | $ | 74,929 | $ | 36,467 | ||||||||||
Other interest expense | 10,536 | 1,277 | (1,361 | ) | 3,262 | 5,271 | 10,590 | 9,118 | ||||||||||||||||
Subsidiary’s preferred stock dividend requirements | 9,095 | 1,605 | 10,694 | 5,347 | — | — | — | |||||||||||||||||
Interest element of rentals charged to income (a) | 3,913 | 124 | 3,239 | 5,374 | 7,589 | 7,091 | 3,474 | |||||||||||||||||
Fixed Charges as defined | $ | 100,749 | $ | 17,240 | $ | 104,886 | $ | 101,664 | $ | 93,700 | $ | 92,610 | $ | 49,059 | ||||||||||
Consolidated Ratio of Earnings to Fixed Charges | 1.33�� | 3.90 | 5.12 | 2.11 | 3.19 | 4.44 | 3.78 | |||||||||||||||||
(a) | Includes the interest element of rentals calculated at 1/3 of rental expense as no readily defined interest element can be determined. |