EX-12 3 fe-06302016xex12.htm EXHIBIT 12 Exhibit

EXHIBIT 12

FIRSTENERGY CORP.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

 
 
Six Months Ended June 30
 
Year Ended December 31
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
2011
 
(In millions)
 
 
 
EARNINGS AS DEFINED IN REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss)
 
$
(761
)
 
$
578

 
$
213

 
$
375

 
$
755

 
$
856

 
Interest and other charges, before reduction for amounts capitalized and deferred
 
577

 
1,132

 
1,073

 
1,016

 
1,001

 
1,008

 
Capitalized interest
 
(34
)
 
(68
)
 
(69
)
 
(75
)
 
(72
)
 
(70
)
 
Provision for income taxes (benefits)
 
83

 
315

 
(42
)
 
195

 
545

 
566

 
Interest element of rentals charged to income(1)
 
39

 
78

 
83

 
96

 
136

 
150

 
Earnings (Losses) as defined
 
$
(96
)
 
$
2,035

 
$
1,258

 
$
1,607

 
$
2,365

 
$
2,510

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest before reduction for amounts capitalized and deferred
 
$
577

 
$
1,132

 
$
1,073

 
$
1,016

 
$
1,001

 
$
1,008

 
Interest element of rentals charged to income(1)
 
39

 
78

 
83

 
96

 
136

 
150

 
Fixed charges as defined
 
$
616

 
$
1,210

 
$
1,156

 
$
1,112

 
$
1,137

 
$
1,158

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES(2)
 
N/A

 
1.68

 
1.09

 
1.45

 
2.08

 
2.17

 

(1) 
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.
(2) 
The ratio of earnings to fixed charges was negative for the six months ended June 30, 2016. Additional earnings of $712 million would be needed to have a one-to-one ratio of earnings to fixed charges.


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