EX-12 4 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS Unassociated Document
             
EXHIBIT 12
               
FIRSTENERGY CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 1,009,655     $ 1,040,868    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     564,199       593,091    
Provision for income taxes
     584,932       695,467    
Interest element of rentals charged to income (a)
     172,371       146,390    
                   
Earnings as defined
   $ 2,331,157     $ 2,475,816    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 564,199     $ 593,091    
Interest element of rentals charged to income (a)
     172,371       146,390    
                   
Fixed charges as defined
   $ 736,570     $ 739,481    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.16       3.35    
                   
                   
                   
                   
                   
                     
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 165,235     $ 147,862    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     51,851       62,749    
Provision for income taxes
     77,122       79,074    
Interest element of rentals charged to income (a)
     56,673       60,370    
                   
Earnings as defined
   $ 350,881     $ 350,055    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 51,851     $ 62,749    
Interest element of rentals charged to income (a)
     56,673       60,370    
                   
Fixed charges as defined
   $ 108,524     $ 123,119    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.23       2.84    
                   
                   
                   
                   
                   
                     
                   
(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
               
THE CLEVELAND ELECTRIC ILLUMINATING COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 217,811     $ 211,214    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     94,479       107,430    
Provision for income taxes
     107,082       131,525    
Interest element of rentals charged to income (a)
     1,379       28,013    
                   
Earnings as defined
   $ 420,751     $ 478,182    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 94,479     $ 107,430    
Interest element of rentals charged to income (a)
     1,379       28,013    
                   
Fixed charges as defined
   $ 95,858     $ 135,443    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED
     4.39       3.53    
CHARGES
                  
                   
                   
                   
                   
                     
                   
(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
               
THE TOLEDO EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 69,503     $ 72,799    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     17,445       25,205    
Provision for income taxes
     27,614       44,924    
Interest element of rentals charged to income (a)
     28,121       46,861    
                   
Earnings as defined
   $ 142,683     $ 189,789    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 17,445     $ 25,205    
Interest element of rentals charged to income (a)
     28,121       46,861    
                   
Fixed charges as defined
   $ 45,566     $ 72,066    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED
     3.13       2.63    
CHARGES
                  
                   
                   
                   
                   
                     
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
               
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 152,788     $ 163,957    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     80,306       79,467    
Provision for income taxes
     115,623       118,637    
Interest element of rentals charged to income (a)
     5,951       6,143    
                   
Earnings as defined
   $ 354,668     $ 368,204    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
     80,306       79,467    
Interest element of rentals charged to income (a)
     5,951       6,143    
                   
Fixed charges as defined
   $ 86,257     $ 85,610    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     4.11       4.30    
                   
                   
                   
                   
                   
                     
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.
                  

 
 
 
 
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EXHIBIT 12
               
METROPOLITAN EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 64,018     $ 75,797    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     33,666       38,471    
Provision for income taxes
     45,866       53,145    
Interest element of rentals charged to income (a)
     1,521       1,509    
                   
Earnings as defined
   $ 145,071     $ 168,922    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
     33,666       38,471    
Interest element of rentals charged to income (a)
     1,521       1,509    
                   
Fixed charges as defined
   $ 35,187     $ 39,980    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     4.12       4.23    
                   
                   
                   
                   
                   
                     
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2008
    
2007
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 62,357     $ 74,237    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     45,157       38,426    
Provision for income taxes
     39,324       49,025    
Interest element of rentals charged to income (a)
     2,494       2,402    
                   
Earnings as defined
   $ 149,332     $ 164,090    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 45,157     $ 38,426    
Interest element of rentals charged to income (a)
     2,494       2,402    
                   
Fixed charges as defined
   $ 47,651     $ 40,828    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.13       4.02    
                   
                   
                   
                   
                   
                     
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
interest element can be determined.