EX-12.6 42 ex12_6.htm FIXED CHARGE RATION - JCP&L ex12_6.htm

                               
EXHIBIT 12.6
 
                               
Page 1
 
JERSEY CENTRAL POWER & LIGHT COMPANY
                                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                                   
     
Year Ended December 31,
 
       
2003
   
2004
   
2005
   
2006
   
2007
 
     
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
                             
Income before extraordinary items
$
           64,277
 
$
         107,626
 
$
         182,927
 
$
         190,607
 
$
         186,108
 
Interest and other charges, before reduction for amounts capitalized
                         
 
and deferred
 
           96,290
   
           86,111
   
           85,519
   
           94,035
   
         107,232
 
Provision for income taxes
 
           48,609
   
           97,205
   
         135,846
   
         146,731
   
         149,056
 
Interest element of rentals charged to income (a)
 
             5,374
   
             7,589
   
             7,091
   
             8,838
   
             7,976
 
                                   
 
Earnings as defined
$
         214,550
 
$
         298,531
 
$
         411,383
 
$
         440,211
 
$
         450,372
 
                                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                             
Interest before reduction for amounts capitalized and deferred
$
           90,943
 
$
           86,111
 
$
           85,519
 
$
           94,035
 
$
         107,232
 
Subsidiary's preferred stock dividend requirements
 
             5,347
   
                     -
   
                     -
   
                     -
   
                     -
 
Interest element of rentals charged to income (a)
 
             5,374
   
             7,589
   
             7,091
   
             8,838
   
             7,976
 
                                   
 
Fixed charges as defined
$
         101,664
 
$
           93,700
 
$
           92,610
 
$
         102,873
 
$
         115,208
 
                                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
2.11
   
3.19
   
4.44
   
4.28
   
3.91
 
                                   
                               
                                   
 
(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)
                                     
     
Year Ended December 31,
       
2003
   
2004
   
2005
   
2006
   
2007
   
     
(Dollars in thousands)
   
EARNINGS AS DEFINED IN REGULATION S-K:
                               
Income before extraordinary items
$
           64,277
 
$
         107,626
 
$
         182,927
 
$
         190,607
 
$
         186,108
   
Interest and other charges, before reduction for amounts capitalized
                           
 
and deferred
 
           96,290
   
           86,111
   
           85,519
   
           94,035
   
         107,232
   
Provision for income taxes
 
           48,609
   
           97,205
   
         135,846
   
         146,731
   
         149,056
   
Interest element of rentals charged to income (a)
 
             5,374
   
             7,589
   
             7,091
   
             8,838
   
             7,976
   
                                     
 
Earnings as defined
$
         214,550
 
$
         298,531
 
$
         411,383
 
$
         440,211
 
$
         450,372
   
                                     
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS
                           
 
PREFERRED STOCK DIVIDEND REQUIREMENTS
                               
 
(PRE-INCOME TAX BASIS):
                               
Interest before reduction for amounts capitalized and deferred
$
           90,943
 
$
           86,111
 
$
           85,519
 
$
           94,035
 
$
         107,232
   
Preferred stock dividend requirements
 
             5,235
   
                500
   
                500
   
             1,018
   
                     -
   
Adjustments to preferred stock dividends
                               
 
to state on a pre-income tax basis
 
                 (85)
   
                452
   
                371
   
                784
   
                     -
   
Interest element of rentals charged to income (a)
 
             5,374
   
             7,589
   
             7,091
   
             8,838
   
             7,976
   
                                     
Fixed charges as defined plus preferred stock
                               
 
dividend requirements (pre-income tax basis)
$
         101,467
 
$
           94,652
 
$
           93,481
 
$
         104,675
 
$
         115,208
   
                                     
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                           
 
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS
                           
 
(PRE-INCOME TAX BASIS)
 
2.11
   
3.15
   
4.40
   
4.21
   
3.91
   
                                     
                                 
                                     
 
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.