EXHIBIT 12 | |||||||||||||||||||
Page 1 | |||||||||||||||||||
JERSEY CENTRAL POWER & LIGHT COMPANY | |||||||||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
Nine Months Ended | |||||||||||||||||||
September 30, | |||||||||||||||||||
2005 | 2004 | ||||||||||||||||||
(In thousands) | |||||||||||||||||||
| EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||||||||
| Income before extraordinary items | $ | 145,008 | $ | 102,565 | |||||||||||||||
| Add - | |||||||||||||||||||
| Interest and other charges, before reduction for | |||||||||||||||||||
| amounts capitalized and deferred interest income | 62,105 | 64,199 | |||||||||||||||||
| Provision for income taxes | 112,510 | 74,066 | |||||||||||||||||
| Interest element of rentals charged to income (a) | 5,420 | 5,318 | |||||||||||||||||
| Earnings as defined | $ | 325,043 | $ | 246,148 | |||||||||||||||
| FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||||||||||||
| Interest on long-term debt | $ | 56,843 | $ | 62,241 | |||||||||||||||
| Other interest expense | 5,262 | 1,958 | |||||||||||||||||
| Interest element of rentals charged to income (a) | 5,420 | 5,318 | |||||||||||||||||
| Fixed charges as defined | $ | 67,525 | $ | 69,517 | |||||||||||||||
| CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 4.81 | 3.54 | |||||||||||||||||
| (a) Includes the interest element of rentals calculated at 1/3 of rental expense as no readily defined interest | |||||||||||||||||||
| element can be determined. | |||||||||||||||||||
171
EXHIBIT 12 | |||||||||||||
Page 2 | |||||||||||||
JERSEY CENTRAL POWER & LIGHT COMPANY | |||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS | |||||||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS | |||||||||||||
Nine Months Ended | |||||||||||||
September 30, | |||||||||||||
2005 | 2004 | ||||||||||||
(In thousands) | |||||||||||||
| EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||
| Income before extraordinary items | $ | 145,008 | $ | 102,565 | |||||||||
| Add - | |||||||||||||
| Interest and other charges, before reduction for | |||||||||||||
| amounts capitalized and deferred interest income | 62,105 | 64,199 | |||||||||||
| Provision for income taxes | 112,510 | 74,066 | |||||||||||
| Interest element of rentals charged to income (a) | 5,420 | 5,318 | |||||||||||
| Earnings as defined | $ | 325,043 | $ | 246,148 | |||||||||
| FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS PREFERRED | |||||||||||||
| STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) | |||||||||||||
| Interest on long-term debt | $ | 56,843 | $ | 62,241 | |||||||||
| Other interest expense | 5,262 | 1,958 | |||||||||||
| Preferred stock dividend requirements | 375 | 375 | |||||||||||
| Adjustment to preferred stock dividends to | |||||||||||||
| state on a pre-income tax basis | 291 | 271 | |||||||||||
| Interest element of rentals charged to income (a) | 5,420 | 5,318 | |||||||||||
| Fixed charges as defined plus preferred stock dividend | |||||||||||||
| requirements (pre-income tax basis) | $ | 68,191 | $ | 70,163 | |||||||||
| CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||
| PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS | |||||||||||||
| (PRE-INCOME TAX BASIS) | 4.77 | 3.51 | |||||||||||
(a) Includes the interest element of rentals calculated at 1/3 of rental expense as no readily defined interest element can be determined. | |||||||||||||
172
EXHIBIT 12 | |||||||||||||
METROPOLITAN EDISON COMPANY | |||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||
Nine Months Ended | |||||||||||||
September 30, | |||||||||||||
2005 | 2004 | ||||||||||||
(in thousands) | |||||||||||||
| EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||
| Income before extraordinary items | $ | 33,144 | $ | 41,786 | |||||||||
| Add - | |||||||||||||
| Interest and other charges, before reduction for | |||||||||||||
| amounts capitalized and deferred interest income | 33,513 | 34,054 | |||||||||||
| Provision for income taxes | 24,159 | 27,641 | |||||||||||
| Interest element of rentals charged to income (a) | 1,279 | 1,061 | |||||||||||
| Earnings as defined | $ | 92,095 | $ | 104,542 | |||||||||
| FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||||||
| Interest on long-term debt | $ | 27,887 | $ | 31,208 | |||||||||
| Other interest expense | 5,626 | 2,846 | |||||||||||
| Interest element of rentals charged to income (a) | 1,279 | 1,061 | |||||||||||
| Fixed charges as defined | $ | 34,792 | $ | 35,115 | |||||||||
| CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 2.65 | 2.98 | |||||||||||
| (a) Includes the interest element of rentals calculated at 1/3 of rental expense as no readily defined interest element can be | |||||||||||||
determined | |||||||||||||
173
EXHIBIT 12 | |||||||
PENNSYLVANIA ELECTRIC COMPANY | |||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||
Nine Months Ended | |||||||
September 30, | |||||||
2005 | 2004 | ||||||
(In thousands) | |||||||
| EARNINGS AS DEFINED IN REGULATION S-K: | |||||||
| Income before extraordinary items | $ | 24,852 | $ | 26,944 | |||
| Add - | |||||||
| Interest and other charges, before reduction for | |||||||
| amounts capitalized and deferred interest income | 29,579 | 30,591 | |||||
| Provision for income taxes | 16,870 | 15,658 | |||||
| Interest element of rentals charged to income (a) | 2,479 | 1,999 | |||||
| Earnings as defined | $ | 73,780 | $ | 75,192 | |||
| FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||
| Interest on long-term debt | $ | 22,187 | $ | 22,528 | |||
| Other interest expense | 7,392 | 8,063 | |||||
| Interest element of rentals charged to income (a) | 2,479 | 1,999 | |||||
| Fixed charges as defined | $ | 32,058 | $ | 32,590 | |||
| CONSOLIDATED RATIO OF EARNINGS TO FIXED | 2.30 | 2.31 | |||||
| CHARGES | |||||||
| (a) Includes the interest element of rentals calculated at 1/3 of rental expense as no readily defined interest | |||||||
| element can be determined. | |||||||
174