EX-12 2 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS Unassociated Document


 
         
EXHIBIT 12
 
             
FIRSTENERGY CORP.
 
             
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
 
             
   
Six Months Ended
 
   
June 30,
 
   
2008
   
2007
 
   
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
           
Income before extraordinary items
  $ 538,656     $ 627,832  
Interest and other charges, before reduction for amounts capitalized
               
and deferred
    370,442       389,877  
Provision for income taxes
    346,666       422,453  
Interest element of rentals charged to income (a)
    115,624       108,228  
                 
Earnings as defined
  $ 1,371,388     $ 1,548,390  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
               
Interest before reduction for amounts capitalized and deferred
  $ 370,442     $ 389,877  
Interest element of rentals charged to income (a)
    115,624       108,228  
                 
Fixed charges as defined
  $ 486,066     $ 498,105  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    2.82       3.11  
                 
                 
                 
                 
                 
                   
                 
(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
 
             
OHIO EDISON COMPANY
 
             
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
 
             
   
Six Months Ended
 
   
June 30,
 
   
2008
   
2007
 
   
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
           
Income before extraordinary items
  $ 92,751     $ 99,648  
Interest and other charges, before reduction for amounts capitalized
               
and deferred
    34,542       42,438  
Provision for income taxes
    48,621       44,985  
Interest element of rentals charged to income (a)
    38,066       41,916  
                 
Earnings as defined
  $ 213,980     $ 228,987  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
               
Interest before reduction for amounts capitalized and deferred
  $ 34,542     $ 42,438  
Interest element of rentals charged to income (a)
    38,066       41,916  
                 
Fixed charges as defined
  $ 72,608     $ 84,354  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    2.95       2.71  
                 
                 
                 
                 
                 
                   
                 
(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
 
             
PENNSYLVANIA ELECTRIC COMPANY
 
             
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
 
             
   
Six Months Ended
 
   
June 30,
 
   
2008
   
2007
 
   
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
           
Income before extraordinary items
  $ 39,789     $ 51,207  
Interest and other charges, before reduction for amounts capitalized
               
and deferred
    30,223       24,409  
Provision for income taxes
    30,266       38,638  
Interest element of rentals charged to income (a)
    1,648       1,536  
                 
Earnings as defined
  $ 101,926     $ 115,790  
                 
FIXED CHARGES AS DEFINED IN REGULATION S-K:
               
Interest before reduction for amounts capitalized and deferred
  $ 30,223     $ 24,409  
Interest element of rentals charged to income (a)
    1,648       1,536  
                 
Fixed charges as defined
  $ 31,871     $ 25,945  
                 
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    3.20       4.46  
                 
                 
                 
                 
                 
                   
                 
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
 
interest element can be determined.