EX-12 16 ppl10k_2002-exhibit12b.htm EXHIBIT 12B - PPL ENERGY SUPPLY Exhibit 12(b)

 
Exhibit 12(b)
PPL ENERGY SUPPLY, LLC AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
                                         
   
2002 (b)
    
2001 (b)
    
2000 (b)
    
1999
    
1998
  
   
   
   
   
   
 
Fixed charges, as defined:                                        
  Interest on long-term debt   $
169
     $
36
     $
54
     $
20
     $
11
  
  Interest on short-term debt and
  other interest		    
52
      
33
      
75
      
32
      
14
  
  Amortization of debt discount,
  expense and premium - net		    
9
      
2
      
11
      
1
          
  Estimated interest component of
  operating rentals		    
23
      
19
      
9
                  
  Preferred stock dividends of
  subsidiaries on a
  pre-tax basis		    
12
                                  
   
   
   
   
   
 
        Total fixed charges   $
265
     $
90
     $
149
     $
53
     $
25
  
   
   
   
   
   
 
Earnings, as defined:                                        
  Net income (loss) (a)   $
507
     $
168
     $
246
     $
(20
 )   $
12
  
  Preferred security dividend
  requirement		    
9
                                  
  Less undistributed income (loss)
  of equity method investments		    
(22
 )    
20
      
74
      
56
      
3
  
   
   
   
   
   
 
       
538
      
148
      
172
      
(76
 )    
9
  
Add:                                        
  Income taxes (benefit)    
266
      
274
      
125
      
(29
 )    
(6
 )
  Total fixed charges as above
  (excluding capitalized interest
  and preferred stock dividends of
  subsidiaries on a pre-tax basis)		    
234
      
66
      
135
      
52
      
24
  
   
   
   
   
   
 
        Total earnings   $
1,038
     $
488
     $
432
     $
(53
 )   $
27
  
   
   
   
   
   
 
Ratio of earnings to fixed charges    
3.9
      
5.4
      
2.9
      
(1.0
 )    
1.1
  
   
   
   
   
   
 
Deficiency                           $
106
          
                     
       
(a)   Net income (loss) excludes minority interest and the cumulative effect of a change in accounting principle.
(b)   Due to the corporate realignment on July 1, 2000, data in 2000 and subsequent years are not comparable to prior years. See Note 19 to the Financial Statements for additional information.