EXHIBIT 12.1
FIRSTENERGY CORP.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
----------------------------------------------------------------
1997 1998 1999 2000 2001
---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items and cumulative effect
of accounting changes..................................... $318,166 $ 441,396 $ 568,299 $ 598,970 $ 654,946
Interest and other charges, before reduction for
amounts capitalized...................................... 299,606 608,618 585,648 556,194 591,192
Provision for income taxes................................. 207,985 321,699 394,827 376,802 474,457
Interest element of rentals charged to income (a).......... 142,363 283,869 279,519 271,471 258,561
-------- ---------- ---------- ---------- ----------
Earnings as defined...................................... $968,120 $1,655,582 $1,828,293 $1,803,437 $1,979,156
======== ========== ========== ========== ==========
FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest expense........................................... $284,180 $ 542,819 $ 509,169 $ 493,473 $ 519,131
Subsidiaries' preferred stock dividend requirements........ 15,426 65,299 76,479 62,721 72,061
Adjustments to subsidiaries' preferred stock dividends
to state on a pre-income tax basis....................... 2,918 43,370 44,829 32,098 43,931
Interest element of rentals charged to income (a).......... 142,363 283,869 279,519 271,471 258,561
-------- ---------- ---------- ---------- ----------
Fixed charges as defined................................. $444,887 $ 935,357 $ 909,996 $ 859,763 $ 893,684
======== ========== ========== ========== ==========
CONSOLIDATED RATIO OF EARNINGS TO FIXED
CHARGES (b)................................................ 2.18 1.77 2.01 2.10 2.21
==== ==== ==== ==== ====
<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
$3,828,000 and $2,209,000 for each of the two years ended December 31, 1998, respectively. The guarantee
and related coal supply contract debt expired December 31, 1999.
</FN>