Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - Talen Energy Holdings, Inc. | Financial_Report.xls |
| EX-31.B - EXHIBIT 31.B - Talen Energy Holdings, Inc. | tln-2015331xexx31b.htm |
| EX-32.B - EXHIBIT 32.B - Talen Energy Holdings, Inc. | tln-2015331xexx32b.htm |
| EX-32.A - EXHIBIT 32.A - Talen Energy Holdings, Inc. | tln-2015331xexx32a.htm |
| EX-31.A - EXHIBIT 31.A - Talen Energy Holdings, Inc. | tln-2015331xexx31a.htm |
| 10-Q - 10-Q - Talen Energy Holdings, Inc. | tln-2015331x10q.htm |
Exhibit 12
PPL ENERGY SUPPLY, LLC AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
Three Months | |||||||||||||||||||||||
Ended March 31, 2015 | Years Ended December 31, | ||||||||||||||||||||||
2014 (a) | 2013 (a) | 2012 (a) | 2011 (a) | 2010 (a) | |||||||||||||||||||
Earnings, as defined: | |||||||||||||||||||||||
Income (Loss) from Continuing Operations Before Income Taxes (b) | $ | 149 | $ | 303 | $ | (420 | ) | $ | 665 | $ | 1,061 | $ | 860 | ||||||||||
Adjustments to reflect earnings from equity method investments on a cash basis | — | — | — | — | 1 | 7 | |||||||||||||||||
149 | 303 | (420 | ) | 665 | 1,062 | 867 | |||||||||||||||||
Total fixed charges as below | 41 | 161 | 226 | 238 | 259 | 426 | |||||||||||||||||
Less: | |||||||||||||||||||||||
Capitalized interest | 4 | 22 | 35 | 37 | 38 | 27 | |||||||||||||||||
Interest expense and fixed charges related to discontinued operations | — | 10 | 14 | 12 | 6 | 169 | |||||||||||||||||
Total fixed charges included in Income (Loss) from Continuing Operations Before Income Taxes | 37 | 129 | 177 | 189 | 215 | 230 | |||||||||||||||||
Total earnings | $ | 186 | $ | 432 | $ | (243 | ) | $ | 854 | $ | 1,277 | $ | 1,097 | ||||||||||
Fixed charges, as defined: | |||||||||||||||||||||||
Interest charges (c) | $ | 40 | $ | 156 | $ | 207 | $ | 214 | $ | 223 | $ | 387 | |||||||||||
Estimated interest component of operating rentals | 1 | 5 | 19 | 24 | 36 | 38 | |||||||||||||||||
Fixed charges of majority-owned share of 50% or less-owned persons | — | — | — | — | — | 1 | |||||||||||||||||
Total fixed charges (d) | $ | 41 | $ | 161 | $ | 226 | $ | 238 | $ | 259 | $ | 426 | |||||||||||
Ratio of earnings to fixed charges (b) | 4.5 | 2.7 | (1.1 | ) | 3.6 | 4.9 | 2.6 | ||||||||||||||||
(a) | Years 2010 through 2014 reflect the reclassification of certain PPL Montana hydroelectric generating facilities and related assets as Discontinued Operations. See Note 5 to the Financial Statements for additional information. | |
(b) | To facilitate the sale of the hydroelectric generating facilities referred to in (a) above, in December 2013, PPL Montana terminated a lease agreement which resulted in a $697 million charge. See Note 8 to the Financial Statements in PPL Energy Supply's 2014 Form 10-K for additional information. As a result of these transactions, earnings were lower, which resulted in less than one-to-one coverage. The adjusted amount of the deficiency, or the amount of fixed charges in excess of earnings, was $469 million. | |
(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. | |
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