EX-12 3 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,   
  
   
2007
    
2006
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $
627,832
     $
530,844
  
Interest and other charges, before reduction for amounts capitalized
    
389,877
      
347,415
  
Provision for income taxes
    
422,453
      
351,539
  
Interest element of rentals charged to income (a)
    
108,228
      
112,798
  
                 
Earnings as defined
   $
1,548,390
     $
1,342,596
  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest expense
   $
389,877
     $
343,100
  
Subsidiaries’ preferred stock dividend requirements
    
-
      
4,315
  
Adjustments to subsidiaries’ preferred stock dividends
                
to state on a pre-income tax basis
    
-
      
2,858
  
Interest element of rentals charged to income (a)
    
108,228
      
112,798
  
                 
Fixed charges as defined
   $
498,105
     $
463,071
  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
3.11
      
2.90
  
                 
                 
                 
                 
                 
 ————————————                
                 
(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,   
  
   
2007
    
2006
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $
99,648
     $
123,039
  
Interest and other charges, before reduction for amounts capitalized
    
42,438
      
35,909
  
Provision for income taxes
    
44,985
      
73,337
  
Interest element of rentals charged to income (a)
    
41,916
      
44,831
  
                 
Earnings as defined
   $
228,987
     $
277,116
  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest on long-term debt
   $
36,168
     $
26,564
  
Other interest expense
    
6,269
      
9,034
  
Subsidiaries’ preferred stock dividend requirements
    
-
      
311
  
Adjustments to subsidiaries’ preferred stock dividends
                
to state on a pre-income tax basis
    
-
      
194
  
Interest element of rentals charged to income (a)
    
41,916
      
44,831
  
                 
Fixed charges as defined
   $
84,353
     $
80,934
  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
2.71
      
3.42
  
                 
                 
                 
                 
                 
 ————————————                
                 
(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,   
  
   
2007
    
2006
  
   
(Dollars in thousands)
  
             
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $
88,159
     $
73,986
  
Interest and other charges, before reduction for amounts capitalized
    
52,117
      
45,585
  
Provision for income taxes
    
72,362
      
62,190
  
Interest element of rentals charged to income (a)
    
4,351
      
3,474
  
                 
Earnings as defined
   $
216,989
     $
185,235
  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest on long-term debt
    
42,653
      
36,467
  
Other interest expense
    
9,464
      
9,118
  
Interest element of rentals charged to income (a)
    
4,351
      
3,474
  
                 
Fixed charges as defined
   $
56,468
     $
49,059
  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
3.84
      
3.78
  
                 
                 
                 
                 
                 
 ————————————                
                 
(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,   
  
   
2007
    
2006
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $
51,109
     $
57,991
  
Interest and other charges, before reduction for amounts capitalized
    
25,180
      
23,255
  
Provision for income taxes
    
38,408
      
40,759
  
Interest element of rentals charged to income (a)
    
968
      
725
  
                 
Earnings as defined
   $
115,665
     $
122,730
  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest on long-term debt
    
14,428
      
17,470
  
Other interest expense
    
10,753
      
5,785
  
Interest element of rentals charged to income (a)
    
968
      
725
  
                 
Fixed charges as defined
   $
26,149
     $
23,980
  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
4.42
      
5.12
  
                 
                 
                 
                 
                 
 ————————————                
                 
(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,   
  
   
2007
    
2006
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
            
Income before extraordinary items
   $
51,207
     $
38,606
  
Interest and other charges, before reduction for amounts capitalized
    
24,409
      
22,135
  
Provision for income taxes
    
38,638
      
28,518
  
Interest element of rentals charged to income (a)
    
1,536
      
1,567
  
                 
Earnings as defined
   $
115,790
     $
90,826
  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest on long-term debt
   $
14,039
     $
13,916
  
Other interest expense
    
10,371
      
8,219
  
Interest element of rentals charged to income (a)
    
1,536
      
1,567
  
                 
Fixed charges as defined
   $
25,946
     $
23,702
  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
4.46
      
3.83
  
                 
                 
                 
                 
                 
 ————————————                
                 
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.