EXHIBIT 12
OHIO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended | Twelve Months Ended | ||||||||||||
March 31, 2006 | December 31, 2005 | ||||||||||||
Actual | As Adjusted (1) | Actual | As Adjusted (1) | ||||||||||
($ in thousands) | |||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||
Income before extraordinary items | $ | 63,830 | $ | 57,881 | $ | 330,398 | $ | 306,600 | |||||
Add- | |||||||||||||
Interest and other charges, before reduction for | |||||||||||||
amounts capitalized | 18,387 | 28,165 | 77,077 | 116,190 | |||||||||
Provision for income taxes | 38,320 | 34,491 | 309,995 | 294,680 | |||||||||
Interest element of rentals charged to income(2) | 22,662 | 22,662 | 101,862 | 101,862 | |||||||||
$ | 143,199 | $ | 143,199 | $ | 819,332 | $ | 819,332 | ||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||||||
Interest on long-term debt | 13,082 | 23,124 | 58,709 | 98,876 | |||||||||
Other interest expense | 5,149 | 4,885 | 16,679 | 15,625 | |||||||||
Subsidiaries' preferred stock dividend requirements | 156 | 156 | 1,689 | 1,689 | |||||||||
Adjustments to subsidiaries' preferred stock dividends | |||||||||||||
to state on a pre-income tax basis | 101 | 101 | 1,351 | 1,351 | |||||||||
Interest element of rentals charged to income(2) | 22,662 | 22,662 | 101,862 | 101,862 | |||||||||
$ | 41,150 | $ | 50,928 | $ | 180,290 | $ | 219,403 | ||||||
CONSOLIDATED RATIO OF EARNINGS | |||||||||||||
TO FIXED CHARGES | 3.48 | 2.81 | 4.54 | 3.73 |
(1) | As adjusted reflects increased interest on long-term debt related to the issuance and sale of the Senior Notes partially offset by a decrease in other interest expense as a result of the repayment of approximately $23 million of short-term debt including the effects on income taxes. |
(2) | Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
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