EX-12 3 fe-06302016xex12.htm EXHIBIT 12
EXHIBIT 12
FIRSTENERGY CORP.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

|  | Six Months Ended June 30 |  | Year Ended December 31
|  | 2016 |  | 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011 |
(In millions) |  |  |
EARNINGS AS DEFINED IN REGULATION S-K: |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income (Loss) |  | $ | (761 | ) |  | $ | 578 |  |  | $ | 213 |  |  | $ | 375 |  |  | $ | 755 |  |  | $ | 856 |  |
Interest and other charges, before reduction for amounts capitalized and deferred |  | 577 |  |  | 1,132 |  |  | 1,073 |  |  | 1,016 |  |  | 1,001 |  |  | 1,008 |  |
Capitalized interest |  | (34 | ) |  | (68 | ) |  | (69 | ) |  | (75 | ) |  | (72 | ) |  | (70 | ) |
Provision for income taxes (benefits) |  | 83 |  |  | 315 |  |  | (42 | ) |  | 195 |  |  | 545 |  |  | 566 |  |
Interest element of rentals charged to income(1) |  | 39 |  |  | 78 |  |  | 83 |  |  | 96 |  |  | 136 |  |  | 150 |  |
Earnings (Losses) as defined |  | $ | (96 | ) |  | $ | 2,035 |  |  | $ | 1,258 |  |  | $ | 1,607 |  |  | $ | 2,365 |  |  | $ | 2,510 |  |
FIXED CHARGES AS DEFINED IN REGULATION S-K: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest before reduction for amounts capitalized and deferred |  | $ | 577 |  |  | $ | 1,132 |  |  | $ | 1,073 |  |  | $ | 1,016 |  |  | $ | 1,001 |  |  | $ | 1,008 |  |
Interest element of rentals charged to income(1) |  | 39 |  |  | 78 |  |  | 83 |  |  | 96 |  |  | 136 |  |  | 150 |  |
Fixed charges as defined |  | $ | 616 |  |  | $ | 1,210 |  |  | $ | 1,156 |  |  | $ | 1,112 |  |  | $ | 1,137 |  |  | $ | 1,158 |  |
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES(2) |  | N/A |  |  | 1.68 |  |  | 1.09 |  |  | 1.45 |  |  | 2.08 |  |  | 2.17 |  |

(1) | Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.

(2) | The ratio of earnings to fixed charges was negative for the six months ended June 30, 2016. Additional earnings of $712 million would be needed to have a one-to-one ratio of earnings to fixed charges.

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