EXHIBIT 12.7
Page 1
METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
------------------------------------------------
Jan 1- Nov. 7-
Nov. 6, Dec. 31,
1997 1998 1999 2000 2001 2001
---- ---- ---- ---- ---- ----
(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K: |
Income before extraordinary items.............. $ 93,517 $ 57,720 $ 95,123 $ 81,895 $ 62,381 | $14,617
Interest and other charges, before |
reduction for amounts capitalized............ 59,650 59,687 61,842 55,181 48,568 | 8,461
Provision for income taxes..................... 65,769 37,423 61,396 44,088 39,449 | 10,905
Interest element of rentals charged |
to income (a)................................ 6,151 9,784 4,381 1,543 284 | (693)
-------- -------- -------- -------- -------- | ------
Earnings as defined.......................... $225,087 $164,614 $222,742 $182,707 $150,682 | $33,290
======== ======== ======== ======== ======== | ======
|
FIXED CHARGES AS DEFINED IN REGULATION S-K: |
Interest on long-term debt..................... $ 43,885 $ 42,493 $ 45,996 $ 37,886 $ 33,101 | 5,615
Other interest expense......................... 6,765 8,194 2,527 10,639 9,219 | 1,744
Subsidiary's preferred stock dividend |
requirements................................. 9,000 9,000 13,319 6,656 6,248 | 1,102
Interest element of rentals charged to |
income (a)................................... 6,151 9,784 4,381 1,543 284 | (693)
-------- -------- -------- --------- -------- | ------
Fixed charges as defined..................... $ 65,801 $ 69,471 $ 66,223 $ 56,724 $ 48,852 | $7,768
======== ======== ======== ======== ======== | ======
|
CONSOLIDATED RATIO OF EARNINGS TO FIXED |
CHARGES........................................ 3.42 2.37 3.36 3.22 3.08 | 4.29
==== ==== ==== ==== ==== | ====
<FN>
- -------------------------
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
interest element can be determined.
</FN>
EXHIBIT 12.7
Page 2
METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)
Year Ended December 31,
------------------------------------------------
Jan 1- Nov. 7-
Nov. 6, Dec. 31,
1997 1998 1999 2000 2001 2001
---- ---- ---- ---- ---- ----
(Dollars in Thousands)
|
EARNINGS AS DEFINED IN REGULATION S-K: |
Income before extraordinary items.................. $ 93,517 $ 57,720 $ 95,123 $ 81,895 $ 62,381 | $14,617
Interest and other charges, before |
reduction for amounts capitalized................ 59,650 59,687 61,842 55,181 48,568 | 8,461
Provision for income taxes......................... 65,769 37,423 61,396 44,088 39,449 | 10,905
Interest element of rentals charged to income (a).. 6,151 9,784 4,381 1,543 284 | (693)
-------- -------- -------- -------- -------- | -------
Earnings as defined.............................. $225,087 $164,614 $222,742 $182,707 $150,682 | $33,290
======== ======== ======== ======== ======== | =======
|
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS |
PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS): |
Interest on long-term debt......................... $ 43,885 $ 42,493 $ 45,996 $ 37,886 $ 33,101 | $ 5,615
Other interest expense............................. 6,765 8,194 2,527 10,639 9,219 | 1,744
Preferred stock dividend requirements.............. 9,483 9,483 13,319 6,656 6,248 | 1,102
Adjustments to preferred stock dividends |
to state on a pre-income tax basis............... 340 313 43 -- -- | --
Interest element of rentals charged to income (a).. 6,151 9,784 4,381 1,543 284 | (693)
-------- -------- -------- -------- -------- | -------
Fixed charges as defined plus preferred stock |
dividend requirements (pre-income tax basis)... $ 66,624 $ 70,267 $ 66,266 $ 56,724 $ 48,852 | $ 7,768
======== ======== ======== ======== ======== | =======
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES |
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS |
(PRE-INCOME TAX BASIS)............................. 3.38 2.34 3.36 3.22 3.08 | 4.29
==== ==== ==== ==== ==== | ====
<FN>
- -------------------------
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
interest element can be determined.
</FN>