EX-12.B 6 ppl-6302016_ex12b.htm EXHIBIT 12(B) Exhibit



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)
 
Six Months Ended June 30,
 
Years Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income Before Income Taxes
$
277

 
$
416

 
$
423

 
$
317

 
$
204

 
$
257

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges as below
71

 
139

 
131

 
117

 
107

 
105

 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
$
348

 
$
555

 
$
554

 
$
434

 
$
311

 
$
362

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
Interest charges (a)
$
69

 
$
135

 
$
127

 
$
113

 
$
104

 
$
102

Estimated interest component of operating rentals
2

 
4

 
4

 
4

 
3

 
3

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges (b)
$
71

 
$
139

 
$
131

 
$
117

 
$
107

 
$
105

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.9

 
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
71

 
139

 
131

 
117

 
107

 
105

Total fixed charges and preferred stock dividends
$
71

 
$
139

 
$
131

 
$
117

 
$
113

 
$
126

Ratio of earnings to combined fixed charges and preferred stock dividends
4.9

 
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.