EXHIBIT 12
Page 1
METROPOLITAN EDISON COMPANY
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended
September 30,
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2003 2002
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(In thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items..................... $ 43,354 $ 49,661
Add-
Interest and other charges, before reduction for
amounts capitalized and deferred interest expense. 35,547 38,430
Provision for income taxes.......................... 28,124 35,212
Interest element of rentals charged to income (a)... (184) 407
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Earnings as defined............................... $106,841 $123,710
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FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest on long-term debt............................ $ 28,382 $ 30,736
Other interest expense................................ 3,385 2,025
Subsidiary's preferred stock dividend requirements.... 3,780 5,669
Interest element of rentals charged to income (a)..... (184) 407
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Fixed charges as defined.......................... $ 35,363 $ 38,837
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CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES.......... 3.02 3.19
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(a) Includes the interest element of rentals calculated at 1/3 of rental
expense as no readily defined interest element can be determined.