EX-12.5 26 ex12_5.htm FIXED CHARGE RATIO - JCP&L Unassociated Document
                       
 EXHIBIT 12.5
  
                       
 Page 1
  
JERSEY CENTRAL POWER & LIGHT COMPANY          
  
                            
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES          
  
                            
   
Year Ended December 31,
  
   
 2002
  
 2003
  
 2004
  
 2005
  
 2006
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
                           
Income before extraordinary items
 
$
248,357
 
$
64,277
 
$
107,626
 
$
182,986
 
$
190,607
 
Interest and other charges, before reduction for amounts capitalized
    
101,647
   
96,290
   
86,111
   
85,519
   
94,035
 
Provision for income taxes
    
184,111
   
48,609
   
97,205
   
135,846
   
146,731
 
Interest element of rentals charged to income (a)
    
3,239
   
5,374
   
7,589
   
7,091
   
8,838
 
                                 
Earnings as defined
  
$
537,354
 
$
214,550
 
$
298,531
 
$
411,442
 
$
440,211
 
                                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                                
Interest on long-term debt
  
$
92,314
 
$
87,681
 
$
80,840
 
$
74,929
 
$
77,658
 
Other interest expense
    
(1,361
)
  
3,262
   
5,271
   
10,590
   
16,377
 
Subsidiary's preferred stock dividend requirements
    
10,694
   
5,347
   
-
   
-
   
-
 
Interest element of rentals charged to income (a)
    
3,239
   
5,374
   
7,589
   
7,091
   
8,838
 
                                 
Fixed charges as defined
  
$
104,886
 
$
101,664
 
$
93,700
 
$
92,610
 
$
102,873
 
                                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
   
5.12
    
2.11
    
3.19
    
4.44
    
4.28
  
                                 
 
                                
                                 
(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 12.5
  
                       
 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,
  
   
 2002
  
 2003
  
 2004
  
 2005
  
 2006
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
                           
Income before extraordinary items
 
$
248,357
 
$
64,277
 
$
107,626
 
$
182,986
 
$
190,607
 
Interest and other charges, before reduction for amounts capitalized
    
101,647
   
96,290
   
86,111
   
85,519
   
94,035
 
Provision for income taxes
    
184,111
   
48,609
   
97,205
   
135,846
   
146,731
 
Interest element of rentals charged to income (a)
    
3,239
   
5,374
   
7,589
   
7,091
   
8,838
 
                                 
Earnings as defined
  
$
537,354
 
$
214,550
 
$
298,531
 
$
411,442
 
$
440,211
 
                                 
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS
                                
PREFERRED STOCK DIVIDEND REQUIREMENTS
                                
(PRE-INCOME TAX BASIS):
                                
Interest on long-term debt
  
$
92,314
 
$
87,681
 
$
80,840
 
$
74,929
 
$
77,658
 
Other interest expense
    
(1,361
)
  
3,262
   
5,271
   
10,590
   
16,377
 
Preferred stock dividend requirements
    
9,230
   
5,235
   
500
   
500
   
1,018
 
Adjustments to preferred stock dividends
                                
to state on a pre-income tax basis
    
(1,085
)
  
(85
)
  
452
   
371
   
784
 
Interest element of rentals charged to income (a)
    
3,239
   
5,374
   
7,589
   
7,091
   
8,838
 
                                 
Fixed charges as defined plus preferred stock
                                
dividend requirements (pre-income tax basis)
  
$
102,337
 
$
101,467
 
$
94,652
 
$
93,481
 
$
104,675
 
                                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                                
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS
                                
(PRE-INCOME TAX BASIS)
    
5.25
    
2.11
    
3.15
    
4.40
    
4.21
  
                                 
 
                                
                                 
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.