EX-12.6 33 ex12-6.htm EXHIBIT 12-6 FIXED CHARGE RATIO - JCP&L Unassociated Document

EXHIBIT 12.6
Page 1

JERSEY CENTRAL POWER & LIGHT COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
Jan. 1-
 
 
Nov. 7-
 
Year Ended December 31,
 
 
 
Nov. 6, 2001
 
 
Dec. 31, 2001
 
2002
 
2003
 
2004
 
 
 
 
 
Restated
 
 
Restated
 
Restated
 
Restated
 
Restated
 
2005
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS AS DEFINED IN REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before extraordinary items
 
$
31,560
 
 
$
29,525
 
$
248,357
 
$
64,277
 
$
107,626
 
$
182,986
 
Interest and other charges, before reduction for
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
amounts capitalized
 
 
96,836
 
 
 
17,116
 
 
101,647
 
 
96,290
 
 
86,111
 
 
85,519
 
Provision for income taxes
 
 
1,850
 
 
 
20,420
 
 
184,111
 
 
48,609
 
 
97,205
 
 
135,846
 
Interest element of rentals charged to income (a)
 
 
3,913
 
 
 
124
 
 
3,239
 
 
5,374
 
 
7,589
 
 
7,091
 
Earnings as defined
 
$
134,159
 
 
$
67,185
 
$
537,354
 
$
214,550
 
$
298,531
 
$
411,442
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on long-term debt
 
$
77,205
 
 
$
14,234
 
$
92,314
 
$
87,681
 
$
80,840
 
$
74,929
 
Other interest expense
 
 
10,536
 
 
 
1,277
 
 
(1,361
)
 
3,262
 
 
5,271
 
 
10,590
 
Subsidiary’s preferred stock dividend requirements
 
 
9,095
 
 
 
1,605
 
 
10,694
 
 
5,347
 
 
-
 
 
-
 
Interest element of rentals charged to income (a)
 
 
3,913
 
 
 
124
 
 
3,239
 
 
5,374
 
 
7,589
 
 
7,091
 
Fixed charges as defined
 
$
100,749
 
 
$
17,240
 
$
104,886
 
$
101,664
 
$
93,700
 
$
92,610
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED RATIO OF EARNINGS TO FIXED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
      CHARGES
 
 
1.33
 
 
 
3.90
 
 
5.12
 
 
2.11
 
 
3.19
 
 
4.44
 
 
(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 12.6
Page 2
JERSEY CENTRAL POWER & LIGHT COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)

 

 
 
Jan. 1-
 
Nov. 7-
 
Year Ended December 31,
 
 
 
Nov. 6, 2001
 
Dec. 31, 2001
 
2002
 
2003
 
2004
 
 
 
 
 
Restated
 
Restated
 
Restated
 
Restated
 
Restated
 
2005
 
 
 
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS AS DEFINED IN REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before extraordinary items
 
$
31,560
 
$
29,525
 
$
248,357
 
$
64,277
 
$
107,626
 
$
182,986
 
Interest and other charges, before reduction for
                         
amounts capitalized
   
96,836
   
17,116
   
101,647
   
96,290
   
86,111
   
85,519
 
Provision for income taxes
   
1,850
   
20,420
   
184,111
   
48,609
   
97,205
   
135,846
 
Interest element of rentals charged to income (a)
   
3,913
   
124
   
3,239
   
5,374
   
7,589
   
7,091
 
Earnings as defined
 
$
134,159
 
$
67,185
 
$
537,354
 
$
214,550
 
$
298,531
 
$
411,442
 
 
                         
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS
                         
PREFERRED STOCK DIVIDEND REQUIREMENTS
                         
(PRE-INCOME TAX BASIS):
                         
Interest on long-term debt
 
$
77,205
 
$
14,234
 
$
92,314
 
$
87,681
 
$
80,840
 
$
74,929
 
Other interest expense
   
10,536
   
1,277
   
(1,361
)
 
3,262
   
5,271
   
10,590
 
Preferred stock dividend requirements
   
13,642
   
2,303
   
9,230
   
5,235
   
500
   
500
 
Adjustments to preferred stock dividends to state on a
                         
pre-income tax basis
   
272
   
483
   
(1,085
)
 
(85
)
 
452
   
371
 
Interest element of rentals charged to income (a)
   
3,913
   
124
   
3,239
   
5,374
   
7,589
   
7,091
 
Fixed charges as defined plus preferred stock
                         
dividend requirements (pre-income tax basis)
 
$
105,568
 
$
18,421
 
$
102,337
 
$
101,467
 
$
94,652
 
$
93,481
 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                         
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS
                         
    (PRE-INCOME TAX BASIS)
   
1.27
   
3.65
   
5.25
   
2.11
   
3.15
   
4.40
 
 

(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.