Exhibit 12(b)
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PPL ENERGY SUPPLY, LLC AND SUBSIDIARIES
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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(Millions of Dollars)
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2011
|
2010
|
2009
|
2008
|
2007
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Earnings, as defined:
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Income (Loss) from Continuing Operations Before
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Income Taxes
|
$
|
1,212
|
$
|
881
|
$
|
(13)
|
$
|
671
|
$
|
785
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Adjustments to reflect earnings from equity method
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investments on a cash basis
|
1
|
7
|
1
|
|
2
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1,213
|
888
|
(12)
|
671
|
787
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Total fixed charges as below
|
259
|
426
|
364
|
390
|
388
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Less:
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Capitalized interest
|
47
|
33
|
44
|
57
|
54
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|||||||||||||||
Interest expense and fixed charges related to
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discontinued operations
|
3
|
147
|
102
|
157
|
217
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|||||||||||||||
Total fixed charges included in Income from
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Continuing Operations Before Income Taxes
|
209
|
246
|
218
|
176
|
117
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Total earnings
|
$
|
1,422
|
$
|
1,134
|
$
|
206
|
$
|
847
|
$
|
904
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Fixed charges, as defined:
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Interest charges (a)
|
$
|
223
|
$
|
387
|
$
|
321
|
$
|
374
|
$
|
374
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Estimated interest component of operating rentals
|
36
|
38
|
42
|
15
|
14
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Fixed charges of majority-owned share of 50% or
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less-owned persons
|
|
1
|
1
|
1
|
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Total fixed charges (b)
|
$
|
259
|
$
|
426
|
$
|
364
|
$
|
390
|
$
|
388
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Ratio of earnings to fixed charges
|
5.5
|
2.7
|
0.6
|
2.2
|
2.3
|
(a)
|
Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
|
|
(b)
|
Interest on unrecognized tax benefits is not included in fixed charges.
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