EX-12 2 c03983exv12.htm EXHIBIT 12 Exhibit 12
EXHIBIT 12
FIRSTENERGY CORP.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in millions)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 405      $ 523   
Interest and other charges, before reduction for amounts capitalized and deferred
     421        403   
Provision for income taxes
     245        302   
Interest element of rentals charged to income (a)
     77        84   
 
            
 
                
Earnings as defined
   $ 1,148      $ 1,312   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 421      $ 403   
Interest element of rentals charged to income (a)
     77        84   
 
            
 
                
Fixed charges as defined
   $ 498      $ 487   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.31        2.69   
 
            
     
(a)   
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.

 

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EXHIBIT 12
FIRSTENERGY SOLUTIONS CORP.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 213,851      $ 468,083   
Interest and other charges, before reduction for amounts capitalized and deferred
     105,881        55,092   
Provision for income taxes
     113,237        261,011   
Interest element of rentals charged to income (a)
     46,087        48,082   
 
            
 
                
Earnings as defined
   $ 479,056      $ 832,268   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 105,881      $ 55,092   
Interest element of rentals charged to income (a)
     46,087        48,082   
 
            
 
                
Fixed charges as defined
   $ 151,968      $ 103,174   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.15        8.07   
 
            
     
(a)  
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

 

2

 

EXHIBIT 12
OHIO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 73,484      $ 45,276   
Interest and other charges, before reduction for amounts capitalized and deferred
     44,465        44,756   
Provision for income taxes
     31,465        20,857   
Interest element of rentals charged to income (a)
     32,386        35,619   
 
            
 
                
Earnings as defined
   $ 181,800      $ 146,508   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 44,465      $ 44,756   
Interest element of rentals charged to income (a)
     32,386        35,619   
 
            
 
                
Fixed charges as defined
   $ 76,851      $ 80,375   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.37        1.82   
 
            
     
(a)   
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

 

3

 

EXHIBIT 12
THE CLEVELAND ELECTRIC ILLUMINATING COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 35,918      $ (57,676 )
Interest and other charges, before reduction for amounts capitalized and deferred
     66,883        66,079   
Provision for income taxes
     19,628        (35,045 )
Interest element of rentals charged to income (a)
     896        1,527   
 
            
 
                
Earnings as defined
   $ 123,325      $ (25,115 )
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 66,883      $ 66,079   
Interest element of rentals charged to income (a)
     896        1,527   
 
            
 
                
Fixed charges as defined
   $ 67,779      $ 67,606   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.82        (b )
 
            
     
(a)   
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined
 
(b)  
The earnings as defined in 2009 would need to increase $92,721,000 for the fixed charge ratio to be 1.0.

 

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EXHIBIT 12
THE TOLEDO EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 14,725      $ 7,397   
Interest and other charges, before reduction for amounts capitalized and deferred
     20,942        14,795   
Provision for income taxes
     6,330        3,261   
Interest element of rentals charged to income (a)
     16,139        17,647   
 
            
 
                
Earnings as defined
   $ 58,136      $ 43,100   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 20,942      $ 14,795   
Interest element of rentals charged to income (a)
     16,139        17,647   
 
            
 
                
Fixed charges as defined
   $ 37,081      $ 32,442   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.57        1.33   
 
            
     
(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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EXHIBIT 12
JERSEY CENTRAL POWER & LIGHT COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 79,119      $ 65,624   
Interest and other charges, before reduction for amounts capitalized and deferred
     60,213        59,982   
Provision for income taxes
     57,051        52,399   
Interest element of rentals charged to income (a)
     3,283        3,740   
 
            
 
                
Earnings as defined
   $ 199,666      $ 181,745   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 60,213      $ 59,982   
Interest element of rentals charged to income (a)
     3,283        3,740   
 
            
 
                
Fixed charges as defined
   $ 63,496      $ 63,722   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.14        2.85   
 
            
     
(a)   
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

 

6

 

EXHIBIT 12
METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 29,424      $ 26,627   
Interest and other charges, before reduction for amounts capitalized and deferred
     26,775        28,122   
Provision for income taxes
     20,884        18,703   
Interest element of rentals charged to income (a)
     1,078        998   
 
            
 
                
Earnings as defined
   $ 78,161      $ 74,450   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 26,775      $ 28,122   
Interest element of rentals charged to income (a)
     1,078        998   
 
            
 
                
Fixed charges as defined
   $ 27,853      $ 29,120   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.81        2.56   
 
            
     
(a)   
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

 

7

 

EXHIBIT 12
PENNSYLVANIA ELECTRIC COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
                 
    Six Months Ended  
    June 30  
    2010      2009   
    (Dollars in thousands)  
EARNINGS AS DEFINED IN REGULATION S-K:
                
Income before extraordinary items
   $ 30,273      $ 33,511   
Interest and other charges, before reduction for amounts capitalized and deferred
     34,920        25,076   
Provision for income taxes
     22,969        23,354   
Interest element of rentals charged to income (a)
     1,668        1,524   
 
            
 
                
Earnings as defined
   $ 89,830      $ 83,465   
 
            
 
                
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                
Interest before reduction for amounts capitalized and deferred
   $ 34,920      $ 25,076   
Interest element of rentals charged to income (a)
     1,668        1,524   
 
            
 
                
Fixed charges as defined
   $ 36,588      $ 26,600   
 
            
 
                
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.46        3.14   
 
            
     
(a)  
Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined

 

8