EX-12.4 5 c11256exv12w4.htm EXHIBIT 12.4 Exhibit 12.4
EXHIBIT 12.4
THE CLEVELAND ELECTRIC ILLUMINATING COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                                         
    Year Ended December 31,  
    2006     2007     2008     2009 (b)     2010  
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                                       
Income before extraordinary items
  $ 307,946     $ 278,283     $ 286,486     $ (10,992 )   $ 73,175  
Interest and other charges, before reduction for amounts capitalized and deferred
    141,710       138,977       125,976       137,171       133,351  
Provision for income taxes
    188,662       163,363       136,786       (10,183 )     38,673  
Interest element of rentals charged to income (a)
    45,955       29,829       1,919       2,380       1,782  
 
                             
 
                                       
Earnings as defined
  $ 684,273     $ 610,452     $ 551,167     $ 118,376     $ 246,981  
 
                             
 
                                       
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                                       
Interest before reduction for amounts capitalized and deferred
  $ 141,710     $ 138,977     $ 125,976     $ 137,171     $ 133,351  
Interest element of rentals charged to income (a)
    45,955       29,829       1,919       2,380       1,782  
 
                             
 
                                       
Fixed charges as defined
  $ 187,665     $ 168,806     $ 127,895     $ 139,551     $ 135,133  
 
                             
 
                                       
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    3.65       3.62       4.31       0.85       1.83  
 
                             
 
     
(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)  
The earnings as defined in 2009 would need to increase $21,175,000 for the fixed charge ratio to be 1.0.