EX-12.D 11 ppl-12312017ex12d.htm EXHIBIT 12.D Exhibit


Exhibit 12(d)
 
LOUISVILLE GAS AND ELECTRIC COMPANY
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
Year
 
Year
 
Year
 
Year
 
Year
 
Ended
 
Ended
 
Ended
 
Ended
 
Ended
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings, as defined:
 
 
 
 
 
 
 
 
 

Income Before Income Taxes
$
344

 
$
329

 
$
299

 
$
272

 
$
257

 
 
 
 
 
 
 
 
 
 
Total fixed charges as below
76

 
76

 
61

 
51

 
36

 
 
 
 
 
 
 
 
 
 
Total earnings
$
420

 
$
405

 
$
360

 
$
323

 
$
293

 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest charges (a) (b)
$
71

 
$
71

 
$
57

 
$
49

 
$
34

Estimated interest component of operating rentals
5

 
5

 
4

 
2

 
2

 
 
 
 
 
 
 
 
 
 
Total fixed charges
$
76

 
$
76

 
$
61

 
$
51

 
$
36

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.5

 
5.3

 
5.9

 
6.3

 
8.1

 
(a)
Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(b)
Includes a credit for amortization of a fair market value adjustment of $7 million in 2013.