EX-12 3 ex_12.htm EXHIBIT 12 - FIXED CHARGE RATIOS ex_12.htm
             
EXHIBIT 12
               
FIRSTENERGY CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 753,686     $ 1,010,884    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     758,789       564,199    
Provision for income taxes
     430,299       584,932    
Interest element of rentals charged to income (a)
     122,199       172,371    
                   
Earnings as defined
   $ 2,064,973     $ 2,332,386    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 758,789     $ 564,199    
Interest element of rentals charged to income (a)
     122,199       172,371    
                   
Fixed charges as defined
   $ 880,988     $ 736,570    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.34       3.17    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
               
FIRSTENERGY SOLUTIONS CORP.
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 667,766     $ 343,733    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     99,488       107,762    
Provision for income taxes
     372,175       198,245    
Interest element of rentals charged to income (a)
     71,641       75,078    
                   
Earnings as defined
   $ 1,211,070     $ 724,818    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 99,488     $ 107,762    
Interest element of rentals charged to income (a)
     71,641       75,078    
                   
Fixed charges as defined
   $ 171,129     $ 182,840    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     7.08       3.96    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 80,011     $ 165,699    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     67,717       51,851    
Provision for income taxes
     36,742       77,122    
Interest element of rentals charged to income (a)
     52,756       56,673    
                   
Earnings as defined
   $ 237,226     $ 351,345    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 67,717     $ 51,851    
Interest element of rentals charged to income (a)
     52,756       56,673    
                   
Fixed charges as defined
   $ 120,473     $ 108,524    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.97       3.24    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ (32,290 )   $ 219,312    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     100,819       94,479    
Provision for income taxes
     (25,290 )     107,082    
Interest element of rentals charged to income (a)
     1,912       1,379    
                   
Earnings as defined
   $ 45,151     $ 422,252    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 100,819     $ 94,479    
Interest element of rentals charged to income (a)
     1,912       1,379    
                   
Fixed charges as defined
   $ 102,731     $ 95,858    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
  
(b)
       4.40    
                   
                   
                   
                   
                   
 
 
                  
                   
(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 $57,580 for the fixed charge ratio to be 1.0.

 
 
 


             
EXHIBIT 12
               
THE TOLEDO EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 14,497     $ 69,513    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     25,649       17,445    
Provision for income taxes
     3,123       27,614    
Interest element of rentals charged to income (a)
     26,159       28,121    
                   
Earnings as defined
   $ 69,428     $ 142,693    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 25,649     $ 17,445    
Interest element of rentals charged to income (a)
     26,159       28,121    
                   
Fixed charges as defined
   $ 51,808     $ 45,566    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     1.34       3.13    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 127,782     $ 152,788    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     90,659       80,306    
Provision for income taxes
     95,834       115,623    
Interest element of rentals charged to income (a)
     5,467       5,951    
                   
Earnings as defined
   $ 319,742     $ 354,668    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 90,659     $ 80,306    
Interest element of rentals charged to income (a)
     5,467       5,951    
                   
Fixed charges as defined
   $ 96,126     $ 86,257    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.33       4.11    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
               
METROPOLITAN EDISON COMPANY
    
               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 37,370     $ 64,018    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     42,502       33,666    
Provision for income taxes
     21,027       45,866    
Interest element of rentals charged to income (a)
     1,647       1,521    
                   
Earnings as defined
   $ 102,546     $ 145,071    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 42,502     $ 33,666    
Interest element of rentals charged to income (a)
     1,647       1,521    
                   
Fixed charges as defined
   $ 44,149     $ 35,187    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.32       4.12    
                   
                   
                   
                   
                   
 
 
                  
                   
(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
    
               
   
Nine Months Ended
    
   
September 30,
    
   
2009
    
2008
    
   
(Dollars in thousands)
    
EARNINGS AS DEFINED IN REGULATION S-K:
              
Income before extraordinary items
   $ 49,307     $ 62,357    
Interest and other charges, before reduction for amounts capitalized
                  
and deferred
     36,690       45,157    
Provision for income taxes
     29,393       39,324    
Interest element of rentals charged to income (a)
     2,324       2,494    
                   
Earnings as defined
   $ 117,714     $ 149,332    
                   
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                  
Interest before reduction for amounts capitalized and deferred
   $ 36,690     $ 45,157    
Interest element of rentals charged to income (a)
     2,324       2,494    
                   
Fixed charges as defined
   $ 39,014     $ 47,651    
                   
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     3.02       3.13    
                   
                   
                   
                   
                   
 
 
                  
                   
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined.