EX-12.E 12 ppl-9302018_ex12e.htm EXHIBIT 12.E Exhibit



Exhibit 12(e)

KENTUCKY UTILITIES COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
 
Nine Months Ended September 30,
 
Years Ended December 31,
 
2018
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
Income Before Income Taxes
$
284

 
$
418

 
$
428

 
$
374

 
$
355

 
$
360

Adjustment to reflect earnings from equity method investments on a cash basis
—

 
1

 
(1
)
 
(1
)
 
(1
)
 
(1
)
 
284

 
419

 
427

 
373

 
354

 
359

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges as below
77

 
100

 
100

 
86

 
80

 
73

 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
$
361

 
$
519

 
$
527

 
$
459

 
$
434

 
$
432

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
Interest charges (a)
$
74

 
$
96

 
$
96

 
$
82

 
$
77

 
$
70

Estimated interest component of operating rentals
3

 
4

 
4

 
4

 
3

 
3

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
$
77

 
$
100

 
$
100

 
$
86

 
$
80

 
$
73

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.7

 
5.2

 
5.3

 
5.3

 
5.4

 
5.9


(a)
Includes interest on long-term and short-term debt, as well as amortization of loss on reacquired debt and amortization of debt discount, expense and premium - net.