EX-12.8 15 ex12-8.htm EXHIBIT 12 - CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES - PENELEC ex12-8.htm
EXHIBIT 12.8
                               
PENNSYLVANIA ELECTRIC COMPANY
  
                               
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
  
                               
   
Year Ended December 31,
  
   
2005
    
2006
    
2007
    
2008
    
2009
  
   
(Dollars in thousands)
  
EARNINGS AS DEFINED IN REGULATION S-K:
                              
Income before extraordinary items
   $ 27,553     $ 84,182     $ 92,938     $ 88,170     $ 65,388  
Interest and other charges, before reduction for amounts capitalized
                                        
and deferred
     39,900       45,278       54,840       59,424       54,605  
Provision for income taxes
     16,613       56,539       64,015       57,647       45,694  
Interest element of rentals charged to income (a)
     3,225       3,247       3,214       3,319       3,141  
                                         
Earnings as defined
   $ 87,291     $ 189,246     $ 215,007     $ 208,560     $ 168,828  
                                         
FIXED CHARGES AS DEFINED IN REGULATION S-K:
                                        
Interest before reduction for amounts capitalized and deferred
   $ 39,900     $ 45,278     $ 54,840     $ 59,424     $ 54,605  
Interest element of rentals charged to income (a)
     3,225       3,247       3,214       3,319       3,141  
                                         
Fixed charges as defined
   $ 43,125     $ 48,525     $ 58,054     $ 62,743     $ 57,746  
                                         
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
     2.02       3.90       3.70       3.32       2.92  
                                         
                                         
 
                                        
                                         
(a)  Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined.