EX-12 2 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS ex_12.htm
             
EXHIBIT 12
               
FIRSTENERGY CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in millions)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 149     $ 115    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     214       196    
Provision for income taxes
     111       54    
Interest element of rentals charged to income (a)
     39       42    
                   
Earnings as defined
   $ 513     $ 407    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 214     $ 196    
Interest element of rentals charged to income (a)
     39       42    
                   
Fixed charges as defined
   $ 253     $ 238    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.03       1.71    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
               
FIRSTENERGY SOLUTIONS CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 79,926     $ 170,681    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     51,949       25,506    
Provision for income taxes
     44,371       91,822    
Interest element of rentals charged to income (a)
     22,986       24,144    
                   
Earnings as defined
   $ 199,232     $ 312,153    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 51,949     $ 25,506    
Interest element of rentals charged to income (a)
     22,986       24,144    
                   
Fixed charges as defined
   $ 74,935     $ 49,650    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.66       6.29    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 36,161     $ 11,648    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     22,310       23,287    
Provision for income taxes
     19,609       4,005    
Interest element of rentals charged to income (a)
     16,415       18,028    
                   
Earnings as defined
   $ 94,495     $ 56,968    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 22,310     $ 23,287    
Interest element of rentals charged to income (a)
     16,415       18,028    
                   
Fixed charges as defined
   $ 38,725     $ 41,315    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.44       1.38    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 13,995     $ (105,400 )  
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     33,621       33,322    
Provision for income taxes
     10,843       (61,506 )  
Interest element of rentals charged to income (a)
     451       428    
                   
Earnings as defined
   $ 58,910     $ (133,156 )  
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 33,621     $ 33,322    
Interest element of rentals charged to income (a)
     451       428    
                   
Fixed charges as defined
   $ 34,072     $ 33,750    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.73    
(b)
    
                   
                   
                   
                   
                   
 
 
                  
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.
                  
                   
(b) The earnings as defined in 2009 would need to increase $166,906,000 for the fixed charge ratio to be 1.0.

 
 
 


             
EXHIBIT 12
               
THE TOLEDO EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 7,509     $ 992    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     10,487       5,533    
Provision for income taxes
     5,382       (109 )  
Interest element of rentals charged to income (a)
     8,175       8,915    
                   
Earnings as defined
   $ 31,553     $ 15,331    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 10,487     $ 5,533    
Interest element of rentals charged to income (a)
     8,175       8,915    
                   
Fixed charges as defined
   $ 18,662     $ 14,448    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.69       1.06    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 29,226     $ 27,558    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     29,928       29,209    
Provision for income taxes
     23,530       22,551    
Interest element of rentals charged to income (a)
     1,646       1,943    
                   
Earnings as defined
   $ 84,330     $ 81,261    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 29,928     $ 29,209    
Interest element of rentals charged to income (a)
     1,646       1,943    
                   
Fixed charges as defined
   $ 31,574     $ 31,152    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.67       2.61    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 12,315     $ 16,622    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     13,773       13,359    
Provision for income taxes
     12,266       11,735    
Interest element of rentals charged to income (a)
     517       507    
                   
Earnings as defined
   $ 38,871     $ 42,223    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 13,773     $ 13,359    
Interest element of rentals charged to income (a)
     517       507    
                   
Fixed charges as defined
   $ 14,290     $ 13,866    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.72       3.05    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Three Months Ended
    
   
March 31,
    
   
2010
    
2009
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 17,299     $ 18,690    
Interest and other charges, before reduction for amounts capitalized
            
and deferred
     17,290       13,233    
Provision for income taxes
     17,157       13,122    
Interest element of rentals charged to income (a)
     878       729    
                   
Earnings as defined
   $ 52,624     $ 45,774    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 17,290     $ 13,233    
Interest element of rentals charged to income (a)
     878       729    
                   
Fixed charges as defined
   $ 18,168     $ 13,962    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.90       3.28    
                   
                   
                   
                   
                   
 
 
                  
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.