Exhibit 12B
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
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(In Thousands)
UNAUDITED
Three Months Ended
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March 31, March 31,
1998 1997
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OPERATING REVENUES $472,334 $510,443
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OPERATING EXPENSES 362,016 398,626
Interest portion of rentals (A) 2,764 2,695
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Net expense 359,252 395,931
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OTHER INCOME:
Allowance for funds used
during construction 758 734
Other income, net 2,265 3,457
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Total other income 3,023 4,191
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EARNINGS AVAILABLE FOR FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (excluding
taxes based on income) $116,105 $118,703
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FIXED CHARGES:
Interest on funded indebtedness $ 21,792 $ 22,768
Other interest (B) 5,204 5,166
Interest portion of rentals (A) 2,764 2,695
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Total fixed charges $ 29,760 $ 30,629
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RATIO OF EARNINGS TO FIXED CHARGES 3.90 3.88
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Preferred stock dividend requirement $ 2,738 $ 3,162
Ratio of income before provision for
income taxes to net income (C) 163.5% 151.0%
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Preferred stock dividend requirement
on a pretax basis 4,477 4,775
Fixed charges, as above 29,760 30,629
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Total fixed charges and
preferred stock dividends $ 34,237 $ 35,404
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RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS 3.39 3.35
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Exhibit 12B
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 dividends on company-obligated mandatorily redeemable
preferred securities of $2,675 for the three month periods ended March
31, 1998 and 1997, respectively.
(C) Represents income before provision for income taxes of $86,345 and
$88,074 for the three month periods ended March 31, 1998 and 1997,
respectively, divided by net income of $52,816 and $58,320,
respectively for the same periods.