EX-12.(B) 11 ppl-12312016ex12b.htm EXHIBIT 12.(B) Exhibit


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,
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings, as defined:
 

 
 

 
 

 
 

 
 

Income Before Income Taxes
$
552

 
$
416

 
$
423

 
$
317

 
$
204

Total fixed charges as below
141

 
139

 
131

 
117

 
107

Total earnings
693

 
555

 
554

 
434

 
311

 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 

 
 

 
 

 
 

Interest charges (a)
137

 
135

 
127

 
113

 
104

Estimated interest component of operating rentals
4

 
4

 
4

 
4

 
3

Total fixed charges (b)
141

 
139

 
131

 
117

 
107

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.9

 
4.0

 
4.2

 
3.7

 
2.9

 
 
 
 
 
 
 
 
 
 
Preferred stock dividend requirements on a pre-tax
  basis
$

 
$

 
$

 
$

 
$
6

Fixed charges, as above
141

 
139

 
131

 
117

 
107

Total fixed charges and preferred stock dividends
$
141

 
$
139

 
$
131

 
$
117

 
$
113

Ratio of earnings to combined fixed charges and
  preferred stock dividends
4.9

 
4.0

 
4.2

 
3.7

 
2.8

 
(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.