EX-12.C 7 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)
 
                   
             
2014
  
2013
  
2012
  
2011
  
2010
Earnings, as defined:
                              
   
Income Before Income Taxes
  
$
 423
  
$
 317
  
$
 204
  
$
 257
  
$
 192
                                         
   
Total fixed charges as below
    
 131
    
 117
    
 107
    
 105
    
 102
                                         
       
Total earnings
  
$
 554
  
$
 434
  
$
 311
  
$
 362
  
$
 294
                                         
Fixed charges, as defined:
                              
   
Interest charges (a)
  
$
 127
  
$
 113
  
$
 104
  
$
 102
  
$
 101
   
Estimated interest component of operating rentals
    
 4
    
 4
    
 3
    
 3
    
 1
                                         
       
Total fixed charges (b)
  
$
 131
  
$
 117
  
$
 107
  
$
 105
  
$
 102
                                         
Ratio of earnings to fixed charges
    
 4.2
    
 3.7
    
 2.9
    
 3.4
    
 2.9
                                         
Preferred stock dividend requirements on a pre-tax
                              
 
basis
    
 
    
 
  
$
 6
  
$
 21
  
$
 23
Fixed charges, as above
  
$
 131
  
$
 117
    
 107
    
 105
    
 102
                                         
   
Total fixed charges and preferred stock dividends
  
$
 131
  
$
 117
  
$
 113
  
$
 126
  
$
 125
                                     
Ratio of earnings to combined fixed charges and
                              
 
preferred stock dividends
    
 4.2
    
 3.7
    
 2.8
    
 2.9
    
 2.4

(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.

 339