EX-12.B 3 exhibit12b.htm EXHIBIT 12B

Exhibit 12(b)  
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES  
   
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND  
PREFERRED STOCK DIVIDENDS  
(Millions of Dollars)  
   
            3 Months                                
            Ended                                
            March 31,   Years Ended December 31,  
            2016   2015   2014   2013   2012   2011  
Earnings, as defined:                                    
    Income Before Income Taxes $ 150   $ 416   $ 423   $ 317   $ 204   $ 257  
                                               
    Total fixed charges as below   36     139     131     117     107     105  
                                               
        Total earnings $ 186   $ 555   $ 554   $ 434   $ 311   $ 362  
                                               
Fixed charges, as defined:                                    
    Interest charges (a) $ 35   $ 135   $ 127   $ 113   $ 104   $ 102  
    Estimated interest component of operating rentals   1     4     4     4     3     3  
                                               
        Total fixed charges (b) $ 36   $ 139   $ 131   $ 117   $ 107   $ 105  
                                               
Ratio of earnings to fixed charges   5.2     4.0     4.2     3.7     2.9     3.4  
                                               
Preferred stock dividend requirements on a pre-tax                                    
  basis                       $ 6   $ 21  
Fixed charges, as above $ 36   $ 139   $ 131   $ 117     107     105  
    Total fixed charges and preferred stock dividends $ 36   $ 139   $ 131   $ 117   $ 113   $ 126  
Ratio of earnings to combined fixed charges and                                    
  preferred stock dividends   5.2     4.0     4.2     3.7     2.8     2.9  

 

(a)   Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(b)   Interest on unrecognized tax benefits is not included in fixed charges.

 

 

 

 

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