EX-12 8 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS Unassociated Document
 
             
EXHIBIT 12
               
FIRSTENERGY CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 118,877     $ 276,348    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     195,588       181,066    
Provision for income taxes
     53,863       187,024    
Interest element of rentals charged to income (a)
     42,095       58,344    
                   
Earnings as defined
   $ 410,423     $ 702,782    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 195,588     $ 181,066    
Interest element of rentals charged to income (a)
     42,095       58,344    
                   
Fixed charges as defined
   $ 237,683     $ 239,410    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.73       2.94    
                   
                   
                   
                   
                   
                     
                   
(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
               
OHIO EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 11,502     $ 43,909    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     23,287       17,641    
Provision for income taxes
     4,005       26,873    
Interest element of rentals charged to income (a)
     18,028       19,191    
                   
Earnings as defined
   $ 56,822     $ 107,614    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 23,287     $ 17,641    
Interest element of rentals charged to income (a)
     18,028       19,191    
                   
Fixed charges as defined
   $ 41,315     $ 36,832    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.38       2.92    
                   
                   
                   
                   
                   
                     
                   
(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
               
THE CLEVELAND ELECTRIC ILLUMINATING COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009 (b)
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ (105,858 )   $ 57,851    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     33,322       32,520    
Provision for income taxes
     (61,506 )     30,326    
Interest element of rentals charged to income (a)
     428       474    
                   
Earnings as defined
   $ (133,614 )   $ 121,171    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 33,322     $ 32,520    
Interest element of rentals charged to income (a)
     428       474    
                   
Fixed charges as defined
   $ 33,750     $ 32,994    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     (3.96 )     3.67    
                   
                   
                   
                   
                   
                     
                   
(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 $167,364,000 for the fixed charge ratio to be 1.0.
 
 
 
             
EXHIBIT 12
               
THE TOLEDO EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 990     $ 17,015    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     5,533       6,035    
Provision for income taxes
     (109 )     8,088    
Interest element of rentals charged to income (a)
     8,915       9,508    
                   
Earnings as defined
   $ 15,329     $ 40,646    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 5,533     $ 6,035    
Interest element of rentals charged to income (a)
     8,915       9,508    
                   
Fixed charges as defined
   $ 14,448     $ 15,543    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.06       2.62    
                   
                   
                   
                   
                   
                     
                   
(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
               
JERSEY CENTRAL POWER & LIGHT COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
               
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 27,558     $ 33,954    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     29,209       26,432    
Provision for income taxes
     22,551       28,403    
Interest element of rentals charged to income (a)
     1,943       2,074    
                   
Earnings as defined
   $ 81,261     $ 90,863    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 29,209     $ 26,432    
Interest element of rentals charged to income (a)
     1,943       2,074    
                   
Fixed charges as defined
   $ 31,152     $ 28,506    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.61       3.19    
                   
                   
                   
                   
                   
                     
                   
(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
               
METROPOLITAN EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 16,622     $ 22,235    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     13,359       11,672    
Provision for income taxes
     11,735       16,675    
Interest element of rentals charged to income (a)
     507       535    
                   
Earnings as defined
   $ 42,223     $ 51,117    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 13,359     $ 11,672    
Interest element of rentals charged to income (a)
     507       535    
                   
Fixed charges as defined
   $ 13,866     $ 12,207    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.05       4.19    
                   
                   
                   
                   
                   
                     
                   
(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
    
               
   
Three Months Ended
    
   
March 31,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 18,690     $ 21,392    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     13,233       15,322    
Provision for income taxes
     13,122       18,279    
Interest element of rentals charged to income (a)
     729       904    
                   
Earnings as defined
   $ 45,774     $ 55,897    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 13,233     $ 15,322    
Interest element of rentals charged to income (a)
     729       904    
                   
Fixed charges as defined
   $ 13,962     $ 16,226    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.28       3.44    
                   
                   
                   
                   
                   
                     
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.