EX-12.1 12 ex12-1.htm EXHIBIT 12-1 FIXED CHARGE RATIO - FE Unassociated Document
EXHIBIT 12.1
FIRSTENERGY CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

 
  
Year Ended December 31,
  
 
  
2001
  
2002
  
2003
  
2004
  
2005
  
 
  
(Dollars in thousands)
  
 
  
 
  
 
  
 
  
 
  
 
  
EARNINGS AS DEFINED IN REGULATION S-K:
  
 
  
 
  
 
  
 
  
 
  
Income before extraordinary items
 
$
654,946
  
$
618,385
  
$
444,166
  
$
896,240
  
$
872,610
  
Interest and other charges, before reduction for
amounts capitalized
    
591,192
    
980,344
    
841,099
    
692,269
    
676,238
  
Provision for income taxes
    
474,457
    
514,134
    
407,633
    
673,049
    
753,782
  
Interest element of rentals charged to income (a)
    
258,561
    
246,416
    
247,222
    
248,499
    
241,460
  
Earnings as defined
  
$
1,979,156
  
$
2,359,279
  
$
1,940,120
  
$
2,510,057
  
$
2,544,090
  
 
                      
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                      
Interest expense
  
$
519,131
  
$
904,697
  
$
798,730
  
$
670,856
  
$
660,700
  
Subsidiaries’ preferred stock dividend requirements
    
72,061
    
75,647
    
42,369
    
21,413
    
15,538
  
Adjustments to subsidiaries’ preferred stock dividends
to state on a pre-income tax basis
    
41,349
    
28,426
    
21,515
    
16,081
    
13,422
  
Interest element of rentals charged to income (a)
    
258,561
    
246,416
    
247,222
    
248,499
    
241,460
  
Fixed charges as defined
  
$
891,102
  
$
1,255,186
  
$
1,109,836
  
$
956,849
  
$
931,120
  
 
                      
CONSOLIDATED RATIO OF EARNINGS TO FIXED
CHARGES
   
2.22
    
1.88
    
1.75
    
2.62
    
2.73
  



(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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