EX-12.B 6 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)  
   
              Year   Year   Year   Year   Year  
              Ended   Ended   Ended   Ended   Ended  
              Dec. 31,   Dec. 31,   Dec. 31,   Dec. 31,   Dec. 31,  
              2015   2014   2013   2012   2011  
Earnings, as defined:                                
    Income Before Income Taxes   $ 416   $ 423   $ 317   $ 204   $ 257  
                                           
    Total fixed charges as below     139     131     117     107     105  
                                           
        Total earnings   $ 555   $ 554   $ 434   $ 311   $ 362  
                                           
Fixed charges, as defined:                                
    Interest charges (a)   $ 135   $ 127   $ 113   $ 104   $ 102  
    Estimated interest component of operating rentals     4     4     4     3     3  
                                           
        Total fixed charges (b)   $ 139   $ 131   $ 117   $ 107   $ 105  
                                           
Ratio of earnings to fixed charges     4.0     4.2     3.7     2.9     3.4  
                                           
Preferred stock dividend requirements on a pre-tax                                
  basis                     $ 6   $ 21  
Fixed charges, as above   $ 139   $ 131   $ 117     107     105  
                                           
    Total fixed charges and preferred stock dividends   $ 139   $ 131   $ 117   $ 113   $ 126  
                                       
Ratio of earnings to combined fixed charges and                                
  preferred stock dividends     4.0     4.2     3.7     2.8     2.9  

 

(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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