EXHIBIT 12.7
Page 1
METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Jan. 1- | Nov. 7- | Year Ended December 31, | |||||||||||||||||
Nov. 6, 2001 | Dec. 31, 2001 | 2002 | 2003 | 2004 | 2005 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||||||||
Income before extraordinary items | $ | 62,381 | $ | 14,617 | $ | 63,224 | $ | 60,953 | $ | 66,955 | $ | 45,919 | |||||||
Interest and other charges, before reduction for amounts capitalized | 48,568 | 8,461 | 50,969 | 46,277 | 45,057 | 44,655 | |||||||||||||
Provision for income taxes | 39,449 | 10,905 | 44,372 | 44,006 | 38,217 | 30,084 | |||||||||||||
Interest element of rentals charged to income (a) | 284 | (693 | ) | 515 | 437 | 1,401 | 1,597 | ||||||||||||
Earnings as defined | $ | 150,682 | $ | 33,290 | $ | 159,080 | $ | 151,673 | $ | 151,630 | $ | 122,255 | |||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||||||||||||||
Interest on long-term debt | $ | 33,101 | $ | 5,615 | $ | 40,774 | $ | 36,657 | $ | 40,630 | $ | 36,804 | |||||||
Other interest expense | 9,219 | 1,744 | 2,636 | 5,841 | 4,427 | 7,851 | |||||||||||||
Subsidiary’s preferred stock dividend requirements | 6,248 | 1,102 | 7,559 | 3,779 | - | - | |||||||||||||
Interest element of rentals charged to income (a) | 284 | (693 | ) | 515 | 437 | 1,401 | 1,597 | ||||||||||||
Fixed charges as defined | $ | 48,852 | $ | 7,768 | $ | 51,484 | $ | 46,714 | $ | 46,458 | $ | 46,252 | |||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 3.08 | 4.29 | 3.09 | 3.25 | 3.26 | 2.64 |
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.
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EXHIBIT 12.7
Page 2
METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
Jan. 1- | Nov. 7- | Year Ended December 31, | |||||||||||||||||
Nov. 6, 2001 | Dec. 31, 2001 | 2002 | 2003 | 2004 | 2005 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||||||||||||||
Income before extraordinary items | $ | 62,381 | $ | 14,617 | $ | 63,224 | $ | 60,953 | $ | 66,955 | $ | 45,919 | |||||||
Interest and other charges, before reduction for amounts capitalized | 48,568 | 8,461 | 50,969 | 46,277 | 45,057 | 44,655 | |||||||||||||
Provision for income taxes | 39,449 | 10,905 | 44,372 | 44,006 | 38,217 | 30,084 | |||||||||||||
Interest element of rentals charged to income | 284 | (693 | ) | 515 | 437 | 1,401 | 1,597 | ||||||||||||
Earnings as defined | $ | 150,682 | $ | 33,290 | $ | 159,080 | $ | 151,673 | $ | 151,630 | $ | 122,255 | |||||||
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS): | |||||||||||||||||||
Interest on long-term debt | $ | 33,101 | $ | 5,615 | $ | 40,774 | $ | 36,657 | $ | 40,630 | $ | 36,804 | |||||||
Other interest expense | 9,219 | 1,744 | 2,636 | 5,841 | 4,427 | 7,851 | |||||||||||||
Preferred stock dividend requirements | 6,248 | 1,102 | 7,559 | 3,779 | - | - | |||||||||||||
Adjustments to preferred stock dividends to state on a pre-income tax basis | - | - | - | - | - | - | |||||||||||||
Interest element of rentals charged to income (a) | 284 | (693 | ) | 515 | 437 | 1,401 | 1,597 | ||||||||||||
Fixed charges as defined plus preferred stock | |||||||||||||||||||
dividend requirements (pre-income tax basis) | $ | 48,852 | $ | 7,768 | $ | 51,484 | $ | 46,714 | $ | 46,458 | $ | 46,252 | |||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) | 3.08 | 4.29 | 3.09 | 3.25 | 3.26 | 2.64 |
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.
105