EX-12.B 4 exhibit12b.htm EXHIBIT 12(B)

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)  
   
            9 Months                                
            Ended                                
            September 30,   Years Ended December 31,  
            2015   2014   2013   2012   2011   2010  
Earnings, as defined:                                    
    Income Before Income Taxes $ 321   $ 423   $ 317   $ 204   $ 257   $ 192  
                                               
    Total fixed charges as below   103     131     117     107     105     102  
                                               
        Total earnings $ 424   $ 554   $ 434   $ 311   $ 362   $ 294  
                                               
Fixed charges, as defined:                                    
    Interest charges (a) $ 100   $ 127   $ 113   $ 104   $ 102   $ 101  
    Estimated interest component of operating rentals   3     4     4     3     3     1  
                                               
        Total fixed charges (b) $ 103   $ 131   $ 117   $ 107   $ 105   $ 102  
                                               
Ratio of earnings to fixed charges   4.1     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 $ 103   $ 131   $ 117     107     105     102  
    Total fixed charges and preferred stock dividends $ 103   $ 131   $ 117   $ 113   $ 126   $ 125  
Ratio of earnings to combined fixed charges and                                    
  preferred stock dividends   4.1     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.

 

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