EX-12 2 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS Unassociated Document
 
 

 
         
EXHIBIT 12
  
             
FIRSTENERGY CORP.
             
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
             
   
Three Months Ended
  
   
March 31,
  
   
2008
    
2007
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $ 276,348     $ 290,110  
Interest and other charges, before reduction for amounts capitalized
                
and deferred
     181,066       184,624  
Provision for income taxes
     187,024       200,341  
Interest element of rentals charged to income (a)
     58,344       54,985  
                 
Earnings as defined
   $ 702,782     $ 730,060  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 181,066     $ 184,624  
Interest element of rentals charged to income (a)
     58,344       54,985  
                 
Fixed charges as defined
   $ 239,410     $ 239,609  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.94       3.05  
                 
                 
                 
                 
                 
  ___________________                
 
                
      (a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
  
  element can be determined.
                
 
 
 
 
 
 
 
         
EXHIBIT 12
  
             
OHIO EDISON COMPANY
             
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
             
   
Three Months Ended
  
   
March 31,
  
   
2008
    
2007
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $ 43,909     $ 54,035  
Interest and other charges, before reduction for amounts capitalized
                
and deferred
     17,641       21,022  
Provision for income taxes
     26,873       17,426  
Interest element of rentals charged to income (a)
     19,191       21,402  
                 
Earnings as defined
   $ 107,614     $ 113,885  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 17,641     $ 21,022  
Interest element of rentals charged to income (a)
     19,191       21,402  
                 
Fixed charges as defined
   $ 36,832     $ 42,424  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.92       2.68  
                 
                 
                 
                 
                 
  __________________                
                 
     (a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
  
 element can be determined.
                
 
 
 
 
 


         
EXHIBIT 12
  
             
PENNSYLVANIA ELECTRIC COMPANY
             
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
  
             
   
Three Months Ended
  
   
March 31,
  
   
2008
    
2007
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $ 21,392     $ 31,744  
Interest and other charges, before reduction for amounts capitalized
                
and deferred
     15,322       11,337  
Provision for income taxes
     18,279       24,263  
Interest element of rentals charged to income (a)
     904       829  
                 
Earnings as defined
   $ 55,897     $ 68,173  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 15,322     $ 11,337  
Interest element of rentals charged to income (a)
     904       829  
                 
Fixed charges as defined
   $ 16,226     $ 12,166  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.44       5.60  
                 
                 
                 
                 
                 
  __________________                
                 
    (a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
  
element can be determined.