EX-12.C 70 exhibit12c.htm EXHIBIT 12(C) exhibit12c.htm
Exhibit 12(c)
 
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES
 
 
 
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
 
PREFERRED STOCK DIVIDENDS
 
(Millions of Dollars)
 
 
 
 
 
 
   
 
 
 
 
2010
   
2009
   
2008
   
2007
   
2006
 
Earnings, as defined:
 
 
   
 
   
 
   
 
   
 
 
Income Before Income Taxes
  $ 192     $ 221     $ 278     $ 246     $ 298  
 
                                       
Total fixed charges as below
    102       121       114       143       159  
 
                                       
Total earnings
  $ 294     $ 342     $ 392     $ 389     $ 457  
 
                                       
Fixed charges, as defined:
                                       
Interest on long-term debt
  $ 89     $ 105     $ 94     $ 109     $ 131  
Interest on short-term debt and other interest
    4       9       13       23       13  
Amortization of debt discount, expense and
                                       
premium - net
    8       6       6       7       8  
Estimated interest component of operating rentals
    1       1       1       4       7  
 
                                       
Total fixed charges (a)
  $ 102     $ 121     $ 114     $ 143     $ 159  
 
                                       
Ratio of earnings to fixed charges
    2.9       2.8       3.4       2.7       2.9  
 
                                       
Preferred stock dividend requirements on a pre-tax                                          
  basis
  $ 23     $ 28     $ 28     $ 27     $ 24  
Fixed charges, as above
    102       121       114       143       159  
Total fixed charges and preferred stock dividends
  $ 125     $ 149     $ 142     $ 170     $ 183  
Ratio of earnings to combined fixed charges and
                                       
preferred stock dividends
    2.4       2.3       2.8       2.3       2.5  

(a)
 
Interest on unrecognized tax benefits is not included in fixed charges.