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 Year Ended
1998 1999 2000 Nov. 6, 2001 Dec. 31, 2001 Dec. 31, 2002
--------- --------- -------- ------------ ------------- -------------
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items..................... $222,442 $172,380 $210,812 $ 34,467 | $30,041 $251,895
Interest and other charges, before reduction for |
amounts capitalized................................. 110,190 106,675 105,799 95,727 | 16,919 100,365
Provision for income taxes............................ 145,078 100,970 119,875 52 | 20,101 181,855
Interest element of rentals charged to income (a)..... 11,838 14,920 6,229 3,913 | 124 3,239
-------- -------- -------- -------- | ------- --------
Earnings as defined................................. $489,548 $394,945 $442,715 $134,159 | $67,185 $537,354
======== ======== ======== ======== | ======= ========
|
FIXED CHARGES AS DEFINED IN REGULATION S-K: |
Interest on long-term debt............................ $ 87,261 $ 87,196 $ 85,220 $ 77,205 | $14,234 $ 92,314
Other interest expense................................ 12,229 8,779 9,879 9,427 | 1,080 (2,643)
Subsidiary's preferred stock dividend requirements.... 10,700 10,700 10,700 9,095 | 1,605 10,694
Interest element of rentals charged to income (a)..... 11,838 14,920 6,229 3,913 | 124 3,239
-------- -------- -------- -------- | ------- --------
Fixed charges as defined............................ $122,028 $121,595 $112,028 $ 99,640 | $17,043 $103,604
======== ======== ======== ======== | ======= ========
|
CONSOLIDATED RATIO OF EARNINGS TO FIXED |
CHARGES............................................... 4.01 3.25 3.95 1.35 | 3.94 5.19
==== ==== ==== ==== | ==== ====
- -------------------------
<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 Year Ended
1998 1999 2000 Nov. 6, 2001 Dec. 31, 2001 Dec. 31, 2002
--------- -------- ------- ------------ ------------- -------------
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items................... $222,442 $172,380 $210,812 $ 34,467 | $30,041 $251,895
Interest and other charges, before reduction for |
amounts capitalized............................... 110,190 106,675 105,799 95,727 | 16,919 100,365
Provision for income taxes.......................... 145,078 100,970 119,875 52 | 20,101 181,855
Interest element of rentals charged to income (a)... 11,838 14,920 6,229 3,913 | 124 3,239
-------- -------- -------- -------- | ------- --------
Earnings as defined............................... $489,548 $394,945 $442,715 $134,159 | $67,185 $537,354
======== ======== ======== ======== | ======= ========
|
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS |
PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS): |
Interest on long-term debt.......................... $ 87,261 $ 87,196 $ 85,220 $ 77,205 | $14,234 $ 92,314
Other interest expense.............................. 12,229 8,779 9,879 9,427 | 1,080 (2,643)
Preferred stock dividend requirements............... 20,765 19,370 17,604 13,642 | 2,303 9,230
Adjustments to preferred stock dividends to |
state on a pre-income tax basis................... 6,562 5,081 3,928 7 | 467 (1,057)
Interest element of rentals charged to income (a)... 11,838 14,920 6,229 3,913 | 124 3,239
-------- -------- -------- -------- | ------- --------
Fixed charges as defined plus preferred stock |
dividend requirements (pre-income tax basis).... $138,655 $135,346 $122,860 $104,194 | $18,208 $101,083
======== ======== ======== ======== | ======= ========
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES |
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS).............................. 3.53 2.92 3.60 1.29 | 3.69 5.32
==== ==== ==== ==== | ==== ====
- -------------------------
<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>