EX-12.E 9 ppl-6302016_ex12e.htm EXHIBIT 12(E) Exhibit



Exhibit 12(e)

KENTUCKY UTILITIES COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
 
Six Months Ended June 30,
 
Years Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
Income Before Income Taxes
$
209

 
$
374

 
$
355

 
$
360

 
$
215

 
$
282

Adjustment to reflect earnings from equity method investments on a cash basis (a)
—

 
(1
)
 
(1
)
 
(1
)
 
33

 
(1
)
 
209

 
373

 
354

 
359

 
248

 
281

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges as below
49

 
86

 
80

 
73

 
72

 
73

 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
$
258

 
$
459

 
$
434

 
$
432

 
$
320

 
$
354

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
Interest charges (b)
$
47

 
$
82

 
$
77

 
$
70

 
$
69

 
$
70

Estimated interest component of operating rentals
2

 
4

 
3

 
3

 
3

 
3

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
$
49

 
$
86

 
$
80

 
$
73

 
$
72

 
$
73

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.3

 
5.3

 
5.4

 
5.9

 
4.4

 
4.8

(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 loss on reacquired debt and amortization of debt discount, expense and premium - net.