EXHIBIT 12.2
Page 1
OHIO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
--------------------------------------------------
1995 1996 1997 1998 1999
---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items $317,241 $315,170 $293,194 $301,320 $297,689
Interest and other charges, before
reduction for amounts capitalized 273,719 255,572 250,920 235,317 225,358
Provision for income taxes 199,307 201,295 187,805 191,261 191,835
Interest element of rentals charged to
income (a) 111,534 114,093 117,409 115,310 113,804
-------- -------- -------- -------- --------
Earnings as defined $901,801 $886,130 $849,328 $843,208 $828,686
======== ======== ======== ======== ========
FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest on long-term debt $243,570 $211,935 $204,285 $184,915 $178,217
Other interest expense 22,944 28,211 31,209 34,976 31,971
Subsidiaries' preferred stock dividend
requirements 7,205 15,426 15,426 15,426 15,170
Adjustments to subsidiaries' preferred
stock dividends to state on a pre-income
tax basis 2,956 2,910 2,918 2,892 2,770
Interest element of rentals charged to
income (a) 111,534 114,093 117,409 115,310 113,804
-------- -------- -------- -------- --------
Fixed charges as defined $388,209 $372,575 $371,247 $353,519 $341,932
======== ======== ======== ======== ========
CONSOLIDATED RATIO OF EARNINGS TO FIXED
CHARGES (b) 2.32 2.38 2.29 2.39 2.42
==== ==== ==== ==== ====
<FN>
- -----------------------
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no
readily defined interest element can be determined.
(b) These ratios exclude fixed charges applicable to the guarantee of the debt of a coal supplier
aggregating $6,315,000, $5,093,000, $3,828,000 and $2,209,000 for each of the four years ended
December 31, 1998, respectively. The guarantee and related coal supply contract debt expired
December 31, 1999.
EXHIBIT 12.2
Page 2
OHIO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED AND
PREFERENCE STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
Year Ended December 31,
------------------------------------------------
1995 1996 1997 1998 1999
---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items $317,241 $315,170 $293,194 $301,320 $297,689
Interest and other charges, before
reduction for amounts capitalized 273,719 255,572 250,920 235,317 225,358
Provision for income taxes 199,307 201,295 187,805 191,261 191,835
Interest element of rentals charged to
income (a) 111,534 114,093 117,409 115,310 113,804
-------- -------- -------- -------- --------
Earnings as defined $901,801 $886,130 $849,328 $843,208 $828,686
======== ======== ======== ======== ========
FIXED CHARGES AS DEFINED IN REGULATION S-K
PLUS PREFERRED AND PREFERENCE STOCK
DIVIDEND REQUIREMENTS(PRE-INCOME TAX BASIS):
Interest on long-term debt $243,570 $211,935 $204,285 $184,915 $178,217
Other interest expense 22,944 28,211 31,209 34,976 31,971
Preferred and preference stock dividend
requirements 29,699 27,923 27,817 27,395 26,717
Adjustments to preferred and preference
stock dividends to state on a pre-income
tax basis 16,745 10,542 10,503 10,140 9,859
Interest element of rentals charged
to income (a) 111,534 114,093 117,409 115,310 113,804
-------- -------- -------- -------- --------
Fixed charges as defined plus preferred
and preference stock dividend
requirements (pre-income tax basis) $424,492 $392,704 $391,223 $372,736 $360,568
======== ======== ======== ======== ========
CONSOLIDATED RATIO OF EARNINGS TO FIXED
CHARGES PLUS PREFERRED AND PREFERENCE
STOCK DIVIDEND REQUIREMENTS (PRE-INCOME
TAX BASIS) (b) 2.12 2.26 2.17 2.26 2.30
==== ==== ==== ==== ====
<FN>
- --------------------
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no
readily defined interest element can be determined.
(b) These ratios exclude fixed charges applicable to the guarantee of the debt of a coal supplier
aggregating $6,315,000, $5,093,000, $3,828,000 and $2,209,000 for each of the four years ended
December 31, 1998, respectively. The guarantee and related coal supply contract debt expired
December 31, 1999.