EX-12 5 l09554aexv12.htm EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS Exhibit 12
 

EXHIBIT 12

JERSEY CENTRAL POWER & LIGHT COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

                                         
                    Year Ended December 31,   Six Months
    Jan. 1-   Nov. 7-  
  Ended
    Nov. 6, 2001
   Dec. 31, 2001
   2002
   2003
   June 30, 2004
    (Dollars in thousands)
EARNINGS AS DEFINED IN
REGULATIONS-K:
                                        
Income before extraordinary items
  $ 34,467     $ 30,041     $ 251,895     $ 68,017     $ 50,234  
Interest and other charges, before reduction for amounts capitalized
    95,727       16,919       100,365       94,719       41,384  
Provision for income taxes
    52       20,101       181,855       46,440       37,356  
Interest element of rentals charged to income (a)
    3,913       124       3,239       5,374       3,364  
 
    
 		      
 		      
 		      
 		      
 		  
Earnings as defined
  $ 134,159     $ 67,185     $ 537,354     $ 214,550     $ 132,338  
 
    
 		      
 		      
 		      
 		      
 		  
FIXED CHARGES AS DEFINED IN
REGULATION S-K:
                                        
Interest on long-term debt
  $ 77,205     $ 14,234     $ 92,314     $ 87,681     $ 40,531  
Other interest expense
    9,427       1,080       (2,643 )     1,690       853  
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       3,364  
 
    
 		      
 		      
 		      
 		      
 		  
Fixed charges as defined
  $ 99,640     $ 17,043     $ 103,604     $ 100,092     $ 44,748  
 
    
 		      
 		      
 		      
 		      
 		  
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    1.35       3.94       5.19       2.14       2.96  
 
    
 		      
 		      
 		      
 		      
 		  

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