EX-12 49 ex12-6jc.txt FIXED CHARGE RATIO - JCP&L
EXHIBIT 12.6 Page 1 JERSEY CENTRAL POWER & LIGHT COMPANY CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES Year Ended December 31, ---------------------------------------------- Jan 1- Nov. 7- Nov. 6, Dec. 31, 1997 1998 1999 2000 2001 2001 ---- ---- ---- ---- ---- ---- (Dollars in Thousands) EARNINGS AS DEFINED IN REGULATION S-K: | Income before extraordinary items.................. $212,014 $222,442 $172,380 $210,812 $ 34,467 | $30,041 Interest and other charges, before reduction | for amounts capitalized.......................... 115,698 110,190 106,675 105,799 95,727 | 16,919 Provision for income taxes......................... 112,116 145,078 100,970 119,875 52 | 20,101 Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124 -------- -------- -------- -------- -------- | ------- Earnings as defined............................. . $450,442 $489,548 $394,945 $442,715 $134,159 | $67,185 ======== ======== ======== ======== ======== | ======= | FIXED CHARGES AS DEFINED IN REGULATION S-K: | Interest on long-term debt......................... $ 89,869 $ 87,261 $ 87,196 $ 85,220 $ 77,205 | $14,234 Other interest expense............................. 15,129 12,229 8,779 9,879 9,427 | 1,080 Subsidiary's preferred stock dividend requirements. 10,700 10,700 10,700 10,700 9,095 | 1,605 Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124 -------- -------- -------- -------- -------- | ------- Fixed charges as defined......................... $126,312 $122,028 $121,595 $112,028 $ 99,640 | $17,043 ======== ======== ======== ======== ======== | ======= | CONSOLIDATED RATIO OF EARNINGS TO FIXED | CHARGES............................................ 3.57 4.01 3.25 3.95 1.35 | 3.94 ==== ==== ==== ==== ==== | ==== ------------------------- (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 12.6 Page 2 JERSEY CENTRAL POWER & LIGHT COMPANY CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) Year Ended December 31, ---------------------------------------------- Jan 1- Nov. 7- Nov. 6, Dec. 31, 1997 1998 1999 2000 2001 2001 ---- ---- ---- ---- ---- ---- (Dollars in Thousands) EARNINGS AS DEFINED IN REGULATION S-K: | Income before extraordinary items.................. $212,014 $222,442 $172,380 $210,812 $ 34,467 | $30,041 Interest and other charges, before reduction for | amounts capitalized.............................. 115,698 110,190 106,675 105,799 95,727 | 16,919 Provision for income taxes......................... 112,116 145,078 100,970 119,875 52 | 20,101 Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124 -------- ---------- -------- -------- -------- | ------- Earnings as defined.............................. $450,442 $489,548 $394,945 $442,715 $134,159 | $67,185 ======== ======== ======== ======== ======== | ======= | FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS | PREFERRED STOCK DIVIDEND REQUIREMENTS | (PRE-INCOME TAX BASIS): | Interest on long-term debt......................... $ 89,869 $ 87,261 $ 87,196 $ 85,220 $ 77,205 | $14,234 Other interest expense............................. 15,129 12,229 8,779 9,879 9,427 | 1,080 Preferred stock dividend requirements.............. 22,076 20,765 19,370 17,604 13,642 | 2,303 Adjustments to preferred stock dividends to | state on a pre-income tax basis.................. 6,018 6,562 5,081 3,928 7 | 467 Interest element of rentals charged to income (a).. 10,614 11,838 14,920 6,229 3,913 | 124 -------- -------- -------- -------- -------- | ------- Fixed charges as defined plus preferred stock | dividend requirements (pre-income tax basis)... $143,706 $138,655 $135,346 $122,860 $104,194 | $18,208 ======== ======== ======== ======== ======== | ======= CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS | (PRE-INCOME TAX BASIS.............................. 3.13 3.53 2.92 3.60 1.29 | 3.69 ==== ==== ==== ==== ==== | ==== ------------------------- (a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.