EX-12.1 7 ex12_1.htm FIXED CHARGE RATIO - FE Unassociated Document
                       
 EXHIBIT 12.1
 
                            
FIRSTENERGY CORP.          
 
                            
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES          
 
                            
   
Year Ended December 31,
 
   
 2002
 
 2003
 
 2004
 
 2005
 
 2006
 
   
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
                          
Income before extraordinary items
 
$
618,385
 
$
444,166
 
$
906,753
 
$
879,053
 
$
1,257,806
 
Interest and other charges, before reduction for amounts capitalized
   
980,344
   
841,099
   
692,068
   
675,424
   
727,956
 
Provision for income taxes
   
514,134
   
407,633
   
680,524
   
748,794
   
794,595
 
Interest element of rentals charged to income (a)
   
246,416
   
247,222
   
248,499
   
241,460
   
226,168
 
                                 
Earnings as defined
 
$
2,359,279
 
$
1,940,120
 
$
2,527,844
 
$
2,544,731
 
$
3,006,525
 
                                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                               
Interest expense
 
$
904,697
 
$
798,730
 
$
670,655
 
$
659,886
 
$
721,068
 
Subsidiaries’ preferred stock dividend requirements
   
75,647
   
42,369
   
21,413
   
15,538
   
6,888
 
Adjustments to subsidiaries’ preferred stock dividends
                               
to state on a pre-income tax basis
   
28,426
   
21,515
   
16,071
   
13,236
   
4,351
 
Interest element of rentals charged to income (a)
   
246,416
   
247,222
   
248,499
   
241,460
   
226,168
 
                                 
Fixed charges as defined
 
$
1,255,186
 
$
1,109,836
 
$
956,638
 
$
930,120
 
$
958,475
 
                                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
   
1.88
   
1.75
   
2.64
   
2.74
   
3.14
 
                                 
                                 
                                 
                                 
 
                               
                                 
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.