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,
						2013		2012		2011		2010		2009		2008
Earnings, as defined:
		Income from Continuing Operations Before
			Income Taxes			$	564	$	2,082	$	2,201	$	1,239	$	538	$	1,273
		Adjustment to reflect earnings from equity method
			investments on a cash basis (a)						34		1		7		1
							564		2,116		2,202		1,246		539		1,273
		Total fixed charges as below					273		1,065		1,022		698		513		568
				Less:
				Capitalized interest			13		53		51		30		43		57
				Preferred security distributions of subsidiaries
					on a pre-tax basis				5		23		21		24		27
				Interest expense and fixed charges related to
					discontinued operations						3		12		15		16
		Total fixed charges included in Income from
			Continuing Operations Before Income Taxes				260		1,007		945		635		431		468
				Total earnings		$	824	$	3,123	$	3,147	$	1,881	$	970	$	1,741
Fixed charges, as defined:
		Interest charges (b)				$	266	$	1,019	$	955	$	637	$	446	$	518
		Estimated interest component of operating rentals					7		41		44		39		42		22
		Preferred security distributions of subsidiaries
			on a pre-tax basis						5		23		21		24		27
		Fixed charges of majority-owned share of 50% or
			less-owned persons										1		1		1
				Total fixed charges (c)		$	273	$	1,065	$	1,022	$	698	$	513	$	568
Ratio of earnings to fixed charges							3.0		2.9		3.1		2.7		1.9		3.1
Ratio of earnings to combined fixed charges and
	preferred stock dividends (d)						3.0		2.9		3.1		2.7		1.9		3.1

(a)	Includes other-than-temporary impairment loss of $25 million in 2012.
(b)	Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(c)	Interest on unrecognized tax benefits is not included in fixed charges.
(d)	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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