EX-12 3 ex12.htm EXHIBIT 12 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document


EXHIBIT 12

OHIO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES


   
Three Months Ended
 
Twelve Months Ended
 
   
March 31, 2006
 
December 31, 2005
 
   
Actual
 
As Adjusted (1)
 
Actual
 
As Adjusted (1)
 
   
($ in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
                 
Income before extraordinary items
 
$
63,830
 
$
57,881
 
$
330,398
 
$
306,600
 
Add-
                         
Interest and other charges, before reduction for
                         
amounts capitalized
   
18,387
   
28,165
   
77,077
   
116,190
 
Provision for income taxes
   
38,320
   
34,491
   
309,995
   
294,680
 
Interest element of rentals charged to income(2)
   
22,662
   
22,662
   
101,862
   
101,862
 
   
$
143,199
 
$
143,199
 
$
819,332
 
$
819,332
 
                           
                           
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                         
Interest on long-term debt
   
13,082
   
23,124
   
58,709
   
98,876
 
Other interest expense
   
5,149
   
4,885
   
16,679
   
15,625
 
Subsidiaries' preferred stock dividend requirements
   
156
   
156
   
1,689
   
1,689
 
Adjustments to subsidiaries' preferred stock dividends
                         
to state on a pre-income tax basis
   
101
   
101
   
1,351
   
1,351
 
Interest element of rentals charged to income(2)
   
22,662
   
22,662
   
101,862
   
101,862
 
   
$
41,150
 
$
50,928
 
$
180,290
 
$
219,403
 
                           
CONSOLIDATED RATIO OF EARNINGS
                         
TO FIXED CHARGES
   
3.48
   
2.81
   
4.54
   
3.73
 

 

 

(1)
 
 
As adjusted reflects increased interest on long-term debt related to the issuance and sale of the Senior Notes partially offset by a decrease in other interest expense as a result of the repayment of approximately $23 million of short-term debt including the effects on income taxes.
   
 (2)
 
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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