Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(Millions of Dollars)
						3 Months
						Ended
						March 31,		Years Ended December 31,
						2011		2010		2009		2008		2007		2006
Earnings, as defined:
		Income from Continuing Operations Before
			Income Taxes			$	625	$	1,239	$	538	$	1,273	$	1,230	$	1,061
		Less earnings of equity method investments													1		2
		Distributed income from equity method investments							7		1				3		1
							625		1,246		539		1,273		1,232		1,060
		Total fixed charges as below					205		698		513		568		609		559
				Less:
				Capitalized interest			11		30		43		57		55		23
				Preferred security distributions of subsidiaries
					on a pre-tax basis		6		21		24		27		23		24
				Interest expense and fixed charges related to
					discontinued operations		3		12		15		16		39		38
		Total fixed charges included in Income from
			Continuing Operations Before Income Taxes				185		635		431		468		492		474
				Total earnings		$	810	$	1,881	$	970	$	1,741	$	1,724	$	1,534
Fixed charges, as defined:
		Interest on long-term debt				$	159	$	481	$	397	$	478	$	522	$	482
		Interest on short-term debt and other interest					14		46		34		28		35		13
		Amortization of debt discount, expense and
			premium - net				15		110		15		12		8		11
		Estimated interest component of operating rentals					11		39		42		22		21		29
		Preferred securities distributions of subsidiaries
			on a pre-tax basis				6		21		24		27		23		24
		Fixed charges of majority-owned share of 50% or
			less-owned persons						1		1		1
				Total fixed charges (a)		$	205	$	698	$	513	$	568	$	609	$	559
Ratio of earnings to fixed charges							4.0		2.7		1.9		3.1		2.8		2.7
Ratio of earnings to combined fixed charges and
	preferred stock dividends (b)						4.0		2.7		1.9		3.1		2.8		2.7

(a)	Interest on unrecognized tax benefits is not included in fixed charges.
(b)	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.