Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(Millions of Dollars)
						Year		Year		Year		Year		Year
						Ended		Ended		Ended		Ended		Ended
						Dec. 31,		Dec. 31,		Dec. 31,		Dec. 31,		Dec. 31,
						2015 (a)		2014 (a)		2013 (a)		2012 (a)		2011 (a)
Earnings, as defined:
		Income from Continuing Operations Before
			Income Taxes			$	2,068	$	2,129	$	1,728	$	1,406	$	922
		Adjustment to reflect earnings from equity method
			investments on a cash basis (b)				(1)						34
							2,067		2,129		1,728		1,440		922
		Total fixed charges as below					1,054		1,095		1,096		1,065		1,022
				Less:
				Capitalized interest			11		11		11		6		4
				Preferred security distributions of subsidiaries
					on a pre-tax basis								5		23
				Interest expense and fixed charges related to
					discontinued operations		150		186		235		235		231
		Total fixed charges included in Income from
			Continuing Operations Before Income Taxes				893		898		850		819		764
				Total earnings		$	2,960	$	3,027	$	2,578	$	2,259	$	1,686
Fixed charges, as defined:
		Interest charges (c)				$	1,038	$	1,073	$	1,058	$	1,019	$	955
		Estimated interest component of operating rentals					16		22		38		41		44
		Preferred securities distributions of subsidiaries
			on a pre-tax basis										5		23
				Total fixed charges (d)		$	1,054	$	1,095	$	1,096	$	1,065	$	1,022
Ratio of earnings to fixed charges							2.8		2.8		2.4		2.1		1.7
Ratio of earnings to combined fixed charges and
	preferred stock dividends (e)						2.8		2.8		2.4		2.1		1.7

(a)	All periods reflect PPL's former Supply segment as Discontinued Operations.  See Note 8 to the Financial Statements for additional information.
(b)	Includes other-than-temporary impairment loss of $25 million in 2012.
(c)	Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(d)	Interest on unrecognized tax benefits is not included in fixed charges.
(e)	PPL, the parent holding company, does not have any preferred stock outstanding; therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.

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