EXHIBIT 12.6
Page 1
JERSEY CENTRAL POWER & LIGHT COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
----------------------------------------------
Jan 1- Nov. 7-
Nov. 6, Dec. 31,
1997 1998 1999 2000 2001 2001
---- ---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K: |
Income before extraordinary items.................. $212,014 $222,442 $172,380 $210,812 $ 34,467 | $30,041
Interest and other charges, before reduction |
for amounts capitalized.......................... 115,698 110,190 106,675 105,799 95,727 | 16,919
Provision for income taxes......................... 112,116 145,078 100,970 119,875 52 | 20,101
Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124
-------- -------- -------- -------- -------- | -------
Earnings as defined............................. . $450,442 $489,548 $394,945 $442,715 $134,159 | $67,185
======== ======== ======== ======== ======== | =======
|
FIXED CHARGES AS DEFINED IN REGULATION S-K: |
Interest on long-term debt......................... $ 89,869 $ 87,261 $ 87,196 $ 85,220 $ 77,205 | $14,234
Other interest expense............................. 15,129 12,229 8,779 9,879 9,427 | 1,080
Subsidiary's preferred stock dividend requirements. 10,700 10,700 10,700 10,700 9,095 | 1,605
Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124
-------- -------- -------- -------- -------- | -------
Fixed charges as defined......................... $126,312 $122,028 $121,595 $112,028 $ 99,640 | $17,043
======== ======== ======== ======== ======== | =======
|
CONSOLIDATED RATIO OF EARNINGS TO FIXED |
CHARGES............................................ 3.57 4.01 3.25 3.95 1.35 | 3.94
==== ==== ==== ==== ==== | ====
<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.
</FN>
EXHIBIT 12.6
Page 2
JERSEY CENTRAL POWER & LIGHT COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
Year Ended December 31,
----------------------------------------------
Jan 1- Nov. 7-
Nov. 6, Dec. 31,
1997 1998 1999 2000 2001 2001
---- ---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K: |
Income before extraordinary items.................. $212,014 $222,442 $172,380 $210,812 $ 34,467 | $30,041
Interest and other charges, before reduction for |
amounts capitalized.............................. 115,698 110,190 106,675 105,799 95,727 | 16,919
Provision for income taxes......................... 112,116 145,078 100,970 119,875 52 | 20,101
Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124
-------- ---------- -------- -------- -------- | -------
Earnings as defined.............................. $450,442 $489,548 $394,945 $442,715 $134,159 | $67,185
======== ======== ======== ======== ======== | =======
|
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS |
PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS): |
Interest on long-term debt......................... $ 89,869 $ 87,261 $ 87,196 $ 85,220 $ 77,205 | $14,234
Other interest expense............................. 15,129 12,229 8,779 9,879 9,427 | 1,080
Preferred stock dividend requirements.............. 22,076 20,765 19,370 17,604 13,642 | 2,303
Adjustments to preferred stock dividends to |
state on a pre-income tax basis.................. 6,018 6,562 5,081 3,928 7 | 467
Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124
-------- -------- -------- -------- -------- | -------
Fixed charges as defined plus preferred stock |
dividend requirements (pre-income tax basis)... $143,706 $138,655 $135,346 $122,860 $104,194 | $18,208
======== ======== ======== ======== ======== | =======
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES |
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS.............................. 3.13 3.53 2.92 3.60 1.29 | 3.69
==== ==== ==== ==== ==== | ====
<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.
</FN>