Exhibit 12A
Page 1 of 2
JERSEY CENTRAL POWER & LIGHT COMPANY AND SUBSIDIARY COMPANY
STATEMENTS SHOWING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS BASED ON SEC REGULATION S-K, ITEM 503
(In Thousands)
------------------------------------------------------------------
UNAUDITED
Six Months Ended
---------------------------
June 30, June 30,
2000 1999
----------- ----------
OPERATING REVENUES $942,895 $907,914
------- -------
OPERATING EXPENSES 747,347 783,502
Interest portion of rentals (A) 4,519 7,537
------- -------
Net expense 742,828 775,965
------- -------
OTHER INCOME:
Allowance for funds used
during construction 1,332 809
Other income, net 12,731 7,482
------- -------
Total other income 14,063 8,291
------- -------
EARNINGS AVAILABLE FOR FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (excluding
taxes based on income) $214,130 $140,240
======= =======
FIXED CHARGES:
Interest on funded indebtedness $ 45,822 $ 47,470
Other interest (B) 5,710 6,006
Interest portion of rentals (A) 4,519 7,537
------- -------
Total fixed charges $ 56,051 $ 61,013
======= =======
RATIO OF EARNINGS TO FIXED CHARGES 3.82 2.30
==== ====
Preferred stock dividend requirement $ 4,122 $ 4,802
Ratio of income before provision for
income taxes to net income (C) 165.9% 165.6%
------- -------
Preferred stock dividend requirement
on a pretax basis 6,838 7,952
Fixed charges, as above 56,051 61,013
------- -------
Total fixed charges and
preferred stock dividends $ 62,889 $ 68,965
======= =======
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS 3.40 2.03
==== ====
Exhibit 12A
Page 2 of 2
JERSEY CENTRAL POWER & LIGHT COMPANY AND SUBSIDIARY COMPANY
STATEMENTS SHOWING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS BASED ON SEC REGULATION S-K, ITEM 503
(In Thousands)
------------------------------------------------------------------
UNAUDITED
NOTES:
(A) JCP&L has included the equivalent of the interest portion of all rentals
charged to income as fixed charges for this statement and has excluded
such components from Operating Expenses.
(B) Includes amount for company-obligated mandatorily redeemable preferred
securities of $5,350 and $5,350 for the six month periods ended June 30,
2000 and 1999, respectively.
(C) Represents income before provision for income taxes of $158,079 and
$79,227 for the six month periods ended June 30, 2000 and 1999,
respectively, divided by net income of $95,304 and $47,842, respectively,
for the same periods.