EX-12 4 ex12_me.txt MET-ED EXHIBIT 12 Page 1 METROPOLITAN EDISON COMPANY CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES Nine Months Ended September 30, ------------------- 2003 2002 -------- -------- (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 -------- -------- Earnings as defined............................... $106,841 $123,710 ======== ======== 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 -------- -------- Fixed charges as defined.......................... $ 35,363 $ 38,837 ======== ======== CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES.......... 3.02 3.19 ==== ==== (a) Includes the interest element of rentals calculated at 1/3 of rental expense as no readily defined interest element can be determined.