PPL Corp - FORM 10-Q - EX-12.A - EXHIBIT 12(A) - August 3, 2015

Attached files

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EX-4.A - EXHIBIT 4(A) - PPL Corpexhibit4a.htm
EX-12.C - EXHIBIT 12(C) - PPL Corpexhibit12c.htm
EX-31.I - EXHIBIT 31I - PPL Corpexhibit31i.htm
EX-31.H - EXHIBIT 31H - PPL Corpexhibit31h.htm
EX-32.B - EXHIBIT 32B - PPL Corpexhibit32b.htm
EX-31.D - EXHIBIT 31D - PPL Corpexhibit31d.htm
EX-32.E - EXHIBIT 32E - PPL Corpexhibit32e.htm
EX-12.E - EXHIBIT 12(E) - PPL Corpexhibit12e.htm
EX-12.B - EXHIBIT 12(B) - PPL Corpexhibit12b.htm
EX-31.G - EXHIBIT 31G - PPL Corpexhibit31g.htm
EX-31.A - EXHIBIT 31A - PPL Corpexhibit31a.htm
EX-32.C - EXHIBIT 32C - PPL Corpexhibit32c.htm
EX-32.D - EXHIBIT 32D - PPL Corpexhibit32d.htm
EX-32.A - EXHIBIT 32A - PPL Corpexhibit32a.htm
EX-31.C - EXHIBIT 31C - PPL Corpexhibit31c.htm
EX-31.F - EXHIBIT 31F - PPL Corpexhibit31f.htm
EX-31.E - EXHIBIT 31E - PPL Corpexhibit31e.htm
EX-31.J - EXHIBIT 31J - PPL Corpexhibit31j.htm
EX-31.B - EXHIBIT 31B - PPL Corpexhibit31b.htm
10-Q - FORM 10-Q - PPL Corpform10q.htm
EX-12.D - EXHIBIT 12(D) - PPL Corpexhibit12d.htm

Exhibit 12(a)  
PPL CORPORATION AND SUBSIDIARIES  
   
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND  
PREFERRED STOCK DIVIDENDS  
(Millions of Dollars)  
   
            6 Months                                
            Ended                                
            June 30,   Years Ended December 31, (a)  
            2015(a)   2014   2013   2012   2011   2010  
Earnings, as defined:                                    
    Income from Continuing Operations Before                                    
      Income Taxes $  1,090   $  2,129   $  1,728   $  1,406   $  922   $  321  
    Adjustment to reflect earnings from equity method                                    
      investments on a cash basis (b)    (2)                      34                  
           1,088      2,129      1,728      1,440      922      321  
                                               
    Total fixed charges as below    590      1,095      1,096      1,065      1,022      698  
        Less:                                    
        Capitalized interest    8      11      11      6      4          
        Preferred security distributions of subsidiaries                                    
          on a pre-tax basis                            5      23      21  
        Interest expense and fixed charges related to                                    
          discontinued operations    150      186      235      235     231     255  
    Total fixed charges included in Income from                                    
      Continuing Operations Before Income Taxes    432      898      850      819     764     422  
                                               
        Total earnings $  1,520   $  3,027   $  2,578   $  2,259   $  1,686   $  743  
                                               
Fixed charges, as defined:                                    
    Interest charges (c) $ 586   $ 1,073   $ 1,058   $ 1,019   $ 955   $ 637  
    Estimated interest component of operating rentals   4     22     38     41     44     39  
    Preferred security distributions of subsidiaries                                    
      on a pre-tax basis                           5     23     21  
    Fixed charges of majority-owned share of 50% or                                    
      less-owned persons                                           1  
                                               
        Total fixed charges (d) $  590   $  1,095   $  1,096   $  1,065   $  1,022   $  698  
                                               
Ratio of earnings to fixed charges    2.6      2.8      2.4      2.1      1.7      1.1  
Ratio of earnings to combined fixed charges and                                    
  preferred stock dividends (e)    2.6      2.8      2.4      2.1      1.7      1.1  

 

(a)   All periods reflect PPL's 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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