EX-12.7 14 ex12-7.htm EXHIBIT 12 - CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES - MET-ED ex12-7.htm

EXHIBIT 12.7
                               
METROPOLITAN EDISON COMPANY
 
                               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
 
                               
 
Year Ended December 31,
 
   
2005
   
2006 (b)
   
2007
   
2008
   
2009
 
 
(Dollars in thousands)
 
EARNINGS AS DEFINED IN REGULATION S-K:
                             
Income before extraordinary items
  $ 45,919     $ (240,195 )   $ 95,463     $ 88,033     $ 55,523  
Interest and other charges, before reduction for amounts capitalized
                                       
and deferred
    44,655       47,385       51,022       43,651       56,683  
Provision for income taxes
    30,084       77,326       68,270       60,898       28,594  
Interest element of rentals charged to income (a)
    1,597       1,616       2,160       2,132       2,194  
                                         
Earnings as defined
  $ 122,255     $ (113,868 )   $ 216,915     $ 194,714     $ 142,994  
                                         
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                                       
Interest before reduction for amounts capitalized and deferred
  $ 44,655     $ 47,385     $ 51,022     $ 43,651     $ 56,683  
Interest element of rentals charged to income (a)
    1,597       1,616       2,160       2,132       2,194  
                                         
Fixed charges as defined
  $ 46,252     $ 49,001     $ 53,182     $ 45,783     $ 58,877  
                                         
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
    2.64       (2.32 )     4.08       4.25       2.43  
                                         
                                         
 
                                       
                                         
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.
       
                                         
(b) The earnings as defined in 2006 would need to increase $162,869,000 for the fixed charge ratios to be 1.0.