EX-12.1 12 ex12_1.htm EXHIBIT 12.1 - FIXED CHARGE RATIO - FIRSTENERGY ex12_1.htm

                               
EXHIBIT 12.1
 
                                   
FIRSTENERGY CORP.
                                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                                   
     
Year Ended December 31,
 
       
2003
   
2004
   
2005
   
2006
   
2007
 
     
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
                             
Income before extraordinary items
$
       444,166
 
$
       906,753
 
$
       879,053
 
$
    1,257,806
 
$
      1,308,757
 
Interest and other charges, before reduction for amounts capitalized
                         
 
and deferred
 
       841,099
   
       692,068
   
       675,424
   
       727,956
   
         785,539
 
Provision for income taxes
 
       407,633
   
       680,524
   
       748,794
   
       794,595
   
         883,033
 
Interest element of rentals charged to income (a)
 
       247,222
   
       248,499
   
       241,460
   
       226,168
   
         206,073
 
                                   
 
Earnings as defined
$
    1,940,120
 
$
    2,527,844
 
$
    2,544,731
 
$
    3,006,525
 
$
      3,183,402
 
                                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                             
Interest before reduction for amounts capitalized and deferred
$
       798,730
 
$
       670,655
 
$
       659,886
 
$
       721,068
 
$
         785,539
 
Subsidiaries’ preferred stock dividend requirements
 
         42,369
   
         21,413
   
         15,538
   
           6,888
   
                     -
 
Adjustments to subsidiaries’ preferred stock dividends
                             
 
to state on a pre-income tax basis
 
         21,515
   
         16,071
   
         13,236
   
           4,351
   
                     -
 
Interest element of rentals charged to income (a)
 
       247,222
   
       248,499
   
       241,460
   
       226,168
   
         206,073
 
                                   
 
Fixed charges as defined
$
    1,109,836
 
$
       956,638
 
$
       930,120
 
$
       958,475
 
$
         991,612
 
                                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
1.75
   
2.64
   
2.74
   
3.14
   
3.21
 
                                   
                                   
                               
                                   
 
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.