EX-12.1 8 ex12-1.htm EXHIBIT 12 - CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES - FE ex12-1.htm
EXHIBIT 12.1
 
FIRSTENERGY CORP.
  
                               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
  
                               
 
Year Ended December 31,
  
   
2005
    
2006
    
2007
    
2008
    
2009
  
 
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
                              
Income before extraordinary items
   $ 882,077     $ 1,260,452     $ 1,311,294     $ 1,339,291     $ 989,801  
Interest and other charges, before reduction for amounts capitalized
                                        
and deferred
     675,424       727,956       785,539       761,291       982,419  
Provision for income taxes
     748,794       794,595       883,033       776,915       245,316  
Interest element of rentals charged to income (a)
     241,460       226,168       206,073       171,229       161,263  
                                         
Earnings as defined
   $ 2,547,755     $ 3,009,171     $ 3,185,939     $ 3,048,726     $ 2,378,799  
                                         
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                                        
Interest before reduction for amounts capitalized and deferred
   $ 659,886     $ 721,068     $ 785,539     $ 761,291     $ 982,419  
Subsidiaries’ preferred stock dividend requirements
     15,538       6,888       -       -       -  
Adjustments to subsidiaries’ preferred stock dividends
                                        
to state on a pre-income tax basis
     13,236       4,351       -       -       -  
Interest element of rentals charged to income (a)
     241,460       226,168       206,073       171,229       161,263  
                                         
Fixed charges as defined
   $ 930,120     $ 958,475     $ 991,612     $ 932,520     $ 1,143,682  
                                         
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.74       3.14       3.21       3.27       2.08  
                                         
                                         
                                         
                                         
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.