Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(Millions of Dollars)
						6 Months
						Ended
						June 30,		Years Ended December 31, (a)
						2015(a)		2014		2013		2012		2011		2010
Earnings, as defined:
		Income from Continuing Operations Before
			Income Taxes			$	1,090	$	2,129	$	1,728	$	1,406	$	922	$	321
		Adjustment to reflect earnings from equity method
			investments on a cash basis (b)				(2)						34
							1,088		2,129		1,728		1,440		922		321
		Total fixed charges as below					590		1,095		1,096		1,065		1,022		698
				Less:
				Capitalized interest			8		11		11		6		4
				Preferred security distributions of subsidiaries
					on a pre-tax basis								5		23		21
				Interest expense and fixed charges related to
					discontinued operations		150		186		235		235		231		255
		Total fixed charges included in Income from
			Continuing Operations Before Income Taxes				432		898		850		819		764		422
				Total earnings		$	1,520	$	3,027	$	2,578	$	2,259	$	1,686	$	743
Fixed charges, as defined:
		Interest charges (c)				$	586	$	1,073	$	1,058	$	1,019	$	955	$	637
		Estimated interest component of operating rentals					4		22		38		41		44		39
		Preferred security distributions of subsidiaries
			on a pre-tax basis										5		23		21
		Fixed charges of majority-owned share of 50% or
			less-owned persons														1
				Total fixed charges (d)		$	590	$	1,095	$	1,096	$	1,065	$	1,022	$	698
Ratio of earnings to fixed charges							2.6		2.8		2.4		2.1		1.7		1.1
Ratio of earnings to combined fixed charges and
	preferred stock dividends (e)						2.6		2.8		2.4		2.1		1.7		1.1

(a)	All periods reflect PPL's Supply segment as Discontinued Operations.  See Note 8 to the Financial Statements for additional information.
(b)	Includes other-than-temporary impairment loss of $25 million in 2012.
(c)	Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(d)	Interest on unrecognized tax benefits is not included in fixed charges.
(e)	PPL, the parent holding company, does not have any preferred stock outstanding; therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.

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