Exhibit 12C
Page 1 of 2
METROPOLITAN EDISON COMPANY AND SUBSIDIARY COMPANIES
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
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September 30, September 30,
2000 1999
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OPERATING REVENUES $628,312 $707,402
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OPERATING EXPENSES 543,936 505,270
Interest portion of rentals (A) 772 3,473
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Net expense 543,164 501,797
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OTHER INCOME AND DEDUCTIONS:
Allowance for funds used
during construction 433 884
Other income, net 7,195 2,357
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Total other income and deductions 7,628 3,241
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EARNINGS AVAILABLE FOR FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (excluding
taxes based on income) $ 92,776 $208,846
======= =======
FIXED CHARGES:
Interest on funded indebtedness $ 35,240 $ 31,869
Other interest (B) 6,483 14,302
Interest portion of rentals (A) 772 3,473
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Total fixed charges $ 42,495 $ 49,644
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RATIO OF EARNINGS TO FIXED CHARGES 2.18 4.21
==== ====
Preferred stock dividend requirement $ - $ 66
Ratio of income before provision for
income taxes to net income (C) 160.3% 170.1%
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Preferred stock dividend requirement
on a pretax basis - 112
Fixed charges, as above 42,495 49,644
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Total fixed charges and
preferred stock dividends $ 42,495 $ 49,756
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RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS 2.18 4.20
==== ====
Exhibit 12C
Page 2 of 2
METROPOLITAN EDISON COMPANY AND SUBSIDIARY COMPANIES
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) Met-Ed 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 trust preferred securities of $4,818
and $2,532 for the nine month periods ended September 30, 2000 and 1999,
respectively, and amount for company-obligated mandatorily redeemable
preferred securities of $6,750 for the nine month period ended September
30, 1999.
(C) Represents income before provision for income taxes of $50,281 and
$159,202 for the nine month periods ended September 30, 2000 and 1999,
respectively, divided by net income of $31,369 and $93,596, respectively,
for the same periods.