Exhibit 12B
Page 1 of 2
METROPOLITAN EDISON 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
Six Months Ended
---------------------------
June 30, June 30,
2000 1999
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OPERATING REVENUES $400,870 $427,167
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OPERATING EXPENSES 326,338 306,292
Interest portion of rentals (A) 513 2,446
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Net expense 325,825 303,846
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OTHER INCOME AND DEDUCTIONS:
Allowance for funds used
during construction 296 500
Other income, net 11,020 3,036
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Total other income and deductions 11,316 3,536
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EARNINGS AVAILABLE FOR FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (excluding
taxes based on income) $ 86,361 $126,857
======= =======
FIXED CHARGES:
Interest on funded indebtedness $ 23,340 $ 24,116
Other interest (B) 4,761 6,045
Interest portion of rentals (A) 513 2,446
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Total fixed charges $ 28,614 $ 32,607
======= =======
RATIO OF EARNINGS TO FIXED CHARGES 3.02 3.89
==== ====
Preferred stock dividend requirement $ - $ 66
Ratio of income before provision for
income taxes to net income (C) 164.2% 181.3%
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Preferred stock dividend requirement
on a pretax basis - 120
Fixed charges, as above 28,614 32,607
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Total fixed charges and
preferred stock dividends $ 28,614 $ 32,727
======= =======
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS 3.02 3.88
==== ====
<PAGE>
Exhibit 12B
Page 2 of 2
METROPOLITAN EDISON 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) Met-Ed 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 trust preferred securities of $3,675 and $694 for the
six month periods ended June 30, 2000 and 1999, respectively, and amount
for company-obligated mandatorily redeemable preferred securities of
$4,500 for the six month period ended June 30, 1999.
(C) Represents income before provision for income taxes of $57,747 and $94,250
for the six month periods ended June 30, 2000 and 1999, respectively,
divided by net income of $35,160 and $51,974, respectively, for the same
periods.
