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METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | | | | | | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan. 1 — Nov. 6, 2001 | : : : | Nov. 7 — Dec. 31, 2001 | Year Ended Dec. 31, 2002 | Nine Months Ended September 30, 2003 | |||||||||||||||||||||
| 1998 | 1999 | 2000 | |||||||||||||||||||||||
| | | (Dollars in Thousands) | | | | | |||||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | : : : | |||||||||||||||||||||||||
Income before extraordinary items | $ | 57,720 | $ | 95,123 | $ | 81,895 | $ | 62,381 | : : | $ | 14,617 | $ | 63,224 | $ | 43,354 | |||||||||||
Interest and other charges, before reduction for amounts capitalized | 59,687 | 61,842 | 55,181 | 48,568 | : : : | 8,461 | 50,969 | 35,547 | ||||||||||||||||||
Provision for income taxes | 37,423 | 61,396 | 44,088 | 39,449 | : | 10,905 | 44,372 | 28,124 | ||||||||||||||||||
Interest element of rentals charged to income(a) | 9,784 | 4,381 | 1,543 | 284 | : : | (693 | ) | 515 | (184 | ) | ||||||||||||||||
: | ||||||||||||||||||||||||||
Earnings as defined | $ | 164,614 | $ | 222,742 | $ | 182,707 | $ | 150,682 | : | $ | 33,290 | $ | 159,080 | $ | 106,841 | |||||||||||
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FIXED CHARGES AS DEFINED IN REGULATION S-K: | : : : | |||||||||||||||||||||||||
Interest on long-term debt | $ | 42,493 | $ | 45,996 | $ | 37,886 | $ | 33,101 | : | 5,615 | $ | 40,774 | $ | 28,382 | ||||||||||||
Other interest expense | 8,194 | 2,527 | 10,639 | 9,219 | : | 1,744 | 2,636 | 3,385 | ||||||||||||||||||
Subsidiary's preferred stock dividend requirements | 9,000 | 13,319 | 6,656 | 6,248 | : : | 1,102 | 7,559 | 3,780 | ||||||||||||||||||
Interest element of rentals charged to income(a) | 9,784 | 4,381 | 1,543 | 284 | : : | (693 | ) | 515 | (184 | ) | ||||||||||||||||
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Fixed charges as defined | $ | 69,471 | $ | 66,223 | $ | 56,724 | $ | 48,852 | : | $ | 7,768 | $ | 51,484 | $ | 35,363 | |||||||||||
: | ||||||||||||||||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 2.37 | 3.36 | 3.22 | 3.08 | : : : | 4.29 | 3.09 | 3.02 | ||||||||||||||||||
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- (a)
- Includes the interest element of rentals where determinable plus1/3 of rental expense where no readily defined interest element can be determined.
METROPOLITAN EDISON COMPANY CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES