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Exhibit 12D
Page 1 of 2
PENNSYLVANIA ELECTRIC 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 $663,623 $705,955
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OPERATING EXPENSES 606,380 546,691
Interest portion of rentals (A) 2,229 3,288
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Net expense 604,151 543,403
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OTHER INCOME AND DEDUCTIONS:
Allowance for funds used
during construction 714 878
Other income, net 2,957 6,682
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Total other income and deductions 3,671 7,560
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EARNINGS AVAILABLE FOR FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (excluding
taxes based on income) $ 63,143 $170,112
======= =======
FIXED CHARGES:
Interest on funded indebtedness $ 26,895 $ 27,789
Other interest (B) 6,137 7,942
Interest portion of rentals (A) 2,229 3,288
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Total fixed charges $ 35,261 $ 39,019
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RATIO OF EARNINGS TO FIXED CHARGES 1.79 4.36
==== ====
Preferred stock dividend requirement $ - $ 154
Ratio of income before provision for
income taxes to net income (C) 159.6% 158.7%
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Preferred stock dividend requirement
on a pretax basis - 244
Fixed charges, as above 35,261 39,019
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Total fixed charges and
preferred stock dividends $ 35,261 $ 39,263
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RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS 1.79 4.33
==== ====
Exhibit 12D
Page 2 of 2
PENNSYLVANIA ELECTRIC 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) Penelec 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 $5,199
and $2,141 for the nine month periods ended September 30, 2000 and 1999,
respectively, and amount for company-obligated mandatorily redeemable
preferred securities of $4,977 for the nine month period ended September
30, 1999.
(C) Represents income before provision for income taxes of $27,882 and
$171,302 for the nine month periods ended September 30, 2000 and 1999,
respectively, divided by net income of $17,472 and $107,950, respectively,
for the same periods.