EXHIBIT 12.4
Page 1
THE TOLEDO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
------------------------------------------------
Jan 1- Nov. 8-
Nov. 7, Dec. 31,
1997 1997 1998 1999 2000 2001
---- ---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K: |
Income before extraordinary items.................. $ 41,769 | $ 7,616 $106,582 $ 99,945 $137,233 $ 62,911
Interest and other charges, before reduction |
for amounts capitalized.......................... 84,637 | 13,786 88,263 78,496 72,055 62,283
Provision for income taxes......................... 33,921 | 5,782 72,696 56,821 76,991 39,642
Interest element of rentals charged to income (a).. 87,850 | 14,945 100,245 98,445 96,358 92,108
-------- | ------- -------- -------- -------- --------
Earnings as defined.............................. $248,177 | $42,129 $367,786 $333,707 $382,637 $256,944
======== | ======= ======== ======== ======== ========
|
FIXED CHARGES AS DEFINED IN REGULATION S-K: |
Interest expense................................... $ 84,637 | $13,786 $ 88,263 $ 78,496 $ 72,055 $ 62,283
Interest element of rentals charged to income (a).. 87,850 | 14,945 100,245 98,445 96,358 92,108
-------- | ------- -------- -------- -------- --------
Fixed charges as defined......................... $172,487 | $28,731 $188,508 $176,941 $168,413 $154,391
======== | ======= ======== ======== ======== ========
|
CONSOLIDATED RATIO OF EARNINGS TO FIXED |
CHARGES............................................ 1.44 | 1.47 1.95 1.89 2.27 1.66
==== | ==== ==== ==== ==== ====
<FN>
- -------------------------
(a) Includes the interest component of Beaver Valley and Bruce Mansfield sale
and leaseback rentals, leased nuclear fuel in the reactor, and other
miscellaneous rentals.
</FN>
EXHIBIT 12.4
Page 2
THE TOLEDO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED
STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
Year Ended December 31,
------------------------------------------------
Jan 1- Nov. 8-
Nov. 7, Dec. 31,
1997 1997 1998 1999 2000 2001
---- ---- ---- ---- ---- ----
(Dollars in Thousands)
|
EARNINGS AS DEFINED IN REGULATION S-K: |
Income before extraordinary items.................. $ 41,769 | $ 7,616 $106,582 $ 99,945 $137,233 $ 62,911
Interest and other charges, before reduction for |
amounts capitalized................................ 84,637 | 13,786 88,263 78,496 72,055 62,283
Provision for income taxes......................... 33,921 | 5,782 72,696 56,821 76,991 39,642
Interest element of rentals charged to income (a).. 87,850 | 14,945 100,245 98,445 96,358 92,108
-------- | ------- -------- -------- -------- --------
Earnings as defined.............................. $248,177 | $42,129 $367,786 $333,707 $382,637 $256,944
======== | ======= ======== ======== ======== ========
|
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS |
PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS): |
Interest expense................................... $ 84,637 | $13,786 $ 88,263 $ 78,496 $ 72,055 $ 62,283
Preferred stock dividend requirements.............. 19,435 | -- 13,609 16,238 16,247 16,135
Adjustments to preferred stock dividends |
to state on a pre-income tax basis............... 15,783 | -- 8,335 10,363 10,143 10,167
Interest element of rentals charged to income (a).. 87,850 | 14,945 100,245 98,445 96,358 92,108
-------- | ------- -------- -------- -------- --------
Fixed charges as defined plus preferred stock |
dividend requirements (pre-income tax basis)... $207,705 | $28,731 $210,452 $203,542 $194,803 $180,693
======== | ======= ======== ======== ======== ========
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS |
PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS)............................. 1.19 | 1.47 1.75 1.64 1.96 1.42
==== | ==== ==== ==== ==== ====
<FN>
- -------------------------
(a) Includes the interest component of Beaver Valley and Bruce Mansfield sale
and leaseback rentals, leased nuclear fuel in the reactor, and other
miscellaneous rentals.
</FN>