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 December 31,
1999 2000 Nov. 6, 2001 Dec. 31, 2001 2002 2003
--------- --------- ------------ ------------- --------- ---------
(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items............... $172,380 $210,812 $ 34,467 | $30,041 $251,895 $ 68,017
Interest and other charges, before reduction |
for amounts capitalized....................... 106,675 105,799 95,727 | 16,919 100,365 94,719
Provision for income taxes...................... 100,970 119,875 52 | 20,101 181,855 46,440
Interest element of rentals charged |
to income (a)................................. 14,920 6,229 3,913 | 124 3,239 5,374
-------- -------- --------- | ------- -------- --------
Earnings as defined........................... $394,945 $442,715 $ 134,159 | $67,185 $537,354 $214,550
======== ======== ========= | ======= ======== ========
|
FIXED CHARGES AS DEFINED IN REGULATION S-K: |
Interest on long-term debt...................... $ 87,196 $ 85,220 $ 77,205 | $14,234 $ 92,314 $ 87,681
Other interest expense.......................... 8,779 9,879 9,427 | 1,080 (2,643) 1,690
Subsidiary's preferred stock |
dividend requirements......................... 10,700 10,700 9,095 | 1,605 10,694 5,347
Interest element of rentals charged |
to income (a)................................. 14,920 6,229 3,913 | 124 3,239 5,374
-------- -------- --------- | ------- -------- --------
Fixed charges as defined...................... $121,595 $112,028 $ 99,640 | $17,043 $103,604 $100,092
======== ======== ========= | ======= ======== ========
|
CONSOLIDATED RATIO OF EARNINGS TO |
FIXED CHARGES................................... 3.25 3.95 1.35 | 3.94 5.19 2.14
==== ==== ==== | ==== ==== ====
- -------------------------
<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>
99
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 December 31,
1999 2000 Nov. 6, 2001 Dec. 31, 2001 2002 2003
--------- -------- ------------ ------------- --------- ---------
(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items............... $ 172,380 $210,812 $ 34,467 | $30,041 $251,895 $ 68,017
Interest and other charges, before |
reduction for amounts capitalized.. ......... 106,675 105,799 95,727 | 16,919 100,365 94,719
Provision for income taxes...................... 100,970 119,875 52 | 20,101 181,855 46,440
Interest element of rentals |
charged to income (a)......................... 14,920 6,229 3,913 | 124 3,239 5,374
--------- -------- -------- | ------- -------- --------
Earnings as defined........................... $ 394,945 $442,715 $134,159 | $67,185 $537,354 $214,550
========= ======== ======== | ======= ======== ========
|
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS |
PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS): |
Interest on long-term debt...................... $ 87,196 85,220 $ 77,205 | $14,234 $ 92,314 $ 87,681
Other interest expense.......................... 8,779 9,879 9,427 | 1,080 (2,643) 1,690
Preferred stock dividend requirements........... 19,370 17,604 13,642 | 2,303 9,230 5,235
Adjustments to preferred stock dividends |
to state on a pre-income tax basis............ 5,081 3,928 7 | 467 (1,057) (77)
Interest element of rentals |
charged to income (a)......................... 14,920 6,229 3,913 | 124 3,239 5,374
--------- -------- -------- | ------- -------- --------
Fixed charges as defined plus preferred |
preferred stock dividend requirements |
(pre-income tax basis)...................... $ 135,346 $122,860 $104,194 | $18,208 $101,083 $ 99,903
========= ======== ======== | ======= ======== ========
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES |
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS........................... 2.92 3.60 1.29 | 3.69 5.32 2.15
==== ==== ==== | ==== ==== ====
- -------------------------
<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>
100