Exhibit 12B
Page 1 of 2
JERSEY CENTRAL POWER & LIGHT COMPANY AND SUBSIDIARY COMPANY
STATEMENTS SHOWING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS BASED ON SEC REGULATION S-K, ITEM 503
(In Thousands)
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UNAUDITED
Nine Months Ended
-----------------------------
September 30, September 30,
2000 1999
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OPERATING REVENUES $1,547,940 $1,578,159
--------- ---------
OPERATING EXPENSES 1,216,557 1,258,901
Interest portion of rentals (A) 6,423 10,899
--------- ---------
Net expense 1,210,134 1,248,002
--------- ---------
OTHER INCOME:
Allowance for funds used
during construction 2,394 1,442
Other income, net 19,632 9,175
--------- ---------
Total other income 22,026 10,617
--------- ---------
EARNINGS AVAILABLE FOR FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (excluding
taxes based on income) $ 359,832 $ 340,774
========= =========
FIXED CHARGES:
Interest on funded indebtedness $ 69,965 $ 71,971
Other interest (B) 8,922 9,084
Interest portion of rentals (A) 6,423 10,899
--------- ---------
Total fixed charges $ 85,310 $ 91,954
========= =========
RATIO OF EARNINGS TO FIXED CHARGES 4.22 3.71
==== ====
Preferred stock dividend requirement $ 5,513 $ 7,140
Ratio of income before provision for
income taxes to net income (C) 150.2% 165.1%
----- -----
Preferred stock dividend requirement
on a pretax basis 8,281 11,788
Fixed charges, as above 85,310 91,954
--------- ---------
Total fixed charges and
preferred stock dividends $ 93,591 $ 103,742
========= =========
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS 3.84 3.28
==== ====
<PAGE>
Exhibit 12B
Page 2 of 2
JERSEY CENTRAL POWER & LIGHT COMPANY AND SUBSIDIARY COMPANY
STATEMENTS SHOWING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS BASED ON SEC REGULATION S-K, ITEM 503
(In Thousands)
-----------------------------------------------------------------
UNAUDITED
NOTES:
(A) JCP&L has included the equivalent of the interest portion of all rentals
charged to income as fixed charges for this statement and has excluded
such components from Operating Expenses.
(B) Includes amount for company-obligated mandatorily redeemable preferred
securities of $8,025 and $8,025 for the nine month periods ended September
30, 2000 and 1999, respectively.
(C) Represents income before provision for income taxes of $247,522 and
$248,820 for the nine month periods ended September 30, 2000 and 1999,
respectively, divided by net income of $182,797 and $150,745 respectively,
for the same periods.
