EX-12 5 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS Unassociated Document
 
             
EXHIBIT 12
               
FIRSTENERGY CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 533,343     $ 538,656    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     402,504       370,442    
Provision for income taxes
     301,538       346,666    
Interest element of rentals charged to income (a)
     83,930       115,624    
                   
Earnings as defined
   $ 1,321,315     $ 1,371,388    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 402,504     $ 370,442    
Interest element of rentals charged to income (a)
     83,930       115,624    
                   
Fixed charges as defined
   $ 486,434     $ 486,066    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.72       2.82    
                   
                   
                   
                   
                   
                     
                   
(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
               
FIRSTENERGY SOLUTIONS CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 468,083     $ 158,078    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     55,092       66,978    
Provision for income taxes
     261,011       105,071    
Interest element of rentals charged to income (a)
     48,082       50,261    
                   
Earnings as defined
   $ 832,268     $ 380,388    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 55,092     $ 66,978    
Interest element of rentals charged to income (a)
     48,082       50,261    
                   
Fixed charges as defined
   $ 103,174     $ 117,239    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     8.07       3.24    
                   
                   
                   
                   
                   
                     
                   
(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
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 44,987     $ 92,751    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     44,756       34,542    
Provision for income taxes
     20,857       48,621    
Interest element of rentals charged to income (a)
     35,619       38,066    
                   
Earnings as defined
   $ 146,219     $ 213,980    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 44,756     $ 34,542    
Interest element of rentals charged to income (a)
     35,619       38,066    
                   
Fixed charges as defined
   $ 80,375     $ 72,608    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.82       2.95    
                   
                   
                   
                   
                   
                     
                   
(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
               
THE CLEVELAND ELECTRIC ILLUMINATING COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ (58,553 )   $ 124,424    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     66,079       63,455    
Provision for income taxes
     (35,045 )     64,105    
Interest element of rentals charged to income (a)
     1,527       916    
                   
Earnings as defined
   $ (25,992 )   $ 252,900    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 66,079     $ 63,455    
Interest element of rentals charged to income (a)
     1,527       916    
                   
Fixed charges as defined
   $ 67,606     $ 64,371    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
  
(b)
       3.93    
                   
                   
                   
                   
                   
                     
                   
(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 $93,598,000 for the fixed charge ratio to be 1.0.
 
 
 
             
EXHIBIT 12
               
THE TOLEDO EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 7,394     $ 38,322    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     14,795       11,613    
Provision for income taxes
     3,261       15,440    
Interest element of rentals charged to income (a)
     17,647       18,859    
                   
Earnings as defined
   $ 43,097     $ 84,234    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 14,795     $ 11,613    
Interest element of rentals charged to income (a)
     17,647       18,859    
                   
Fixed charges as defined
   $ 32,442     $ 30,472    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.33       2.76    
                   
                   
                   
                   
                   
                     
                   
(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
               
JERSEY CENTRAL POWER & LIGHT COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 65,624     $ 76,898    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     59,982       52,946    
Provision for income taxes
     52,399       59,871    
Interest element of rentals charged to income (a)
     3,740       3,958    
                   
Earnings as defined
   $ 181,745     $ 193,673    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 59,982     $ 52,946    
Interest element of rentals charged to income (a)
     3,740       3,958    
                   
Fixed charges as defined
   $ 63,722     $ 56,904    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.85       3.40    
                   
                   
                   
                   
                   
                     
                   
(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
               
METROPOLITAN EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 26,627     $ 42,032    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     28,121       22,652    
Provision for income taxes
     18,703       29,596    
Interest element of rentals charged to income (a)
     998       1,072    
                   
Earnings as defined
   $ 74,449     $ 95,352    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 28,121     $ 22,652    
Interest element of rentals charged to income (a)
     998       1,072    
                   
Fixed charges as defined
   $ 29,119     $ 23,724    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.56       4.02    
                   
                   
                   
                   
                   
                     
                   
(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
    
               
   
Six Months Ended
    
   
June 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 33,511     $ 39,789    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     25,076       30,223    
Provision for income taxes
     23,354       30,266    
Interest element of rentals charged to income (a)
     1,524       1,648    
                   
Earnings as defined
   $ 83,465     $ 101,926    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 25,076     $ 30,223    
Interest element of rentals charged to income (a)
     1,524       1,648    
                   
Fixed charges as defined
   $ 26,600     $ 31,871    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.14       3.20    
                   
                   
                   
                   
                   
                     
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.