Exhibit 12(c)
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PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES
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COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
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PREFERRED STOCK DIVIDENDS
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(Millions of Dollars)
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6 Months
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Ended
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June 30,
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Years Ended December 31,
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2012
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2011
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2010
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2009
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2008
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2007
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Earnings, as defined:
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Income Before Income Taxes
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$
|
97
|
$
|
257
|
$
|
192
|
$
|
221
|
$
|
278
|
$
|
246
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Total fixed charges as below
|
52
|
105
|
102
|
121
|
114
|
143
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Total earnings
|
$
|
149
|
$
|
362
|
$
|
294
|
$
|
342
|
$
|
392
|
$
|
389
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Fixed charges, as defined:
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Interest charges (a)
|
$
|
50
|
$
|
102
|
$
|
101
|
$
|
120
|
$
|
113
|
$
|
139
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Estimated interest component of operating rentals
|
2
|
3
|
1
|
1
|
1
|
4
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Total fixed charges (b)
|
$
|
52
|
$
|
105
|
$
|
102
|
$
|
121
|
$
|
114
|
$
|
143
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Ratio of earnings to fixed charges
|
2.9
|
3.4
|
2.9
|
2.8
|
3.4
|
2.7
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Preferred stock dividend requirements on a pre-tax
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basis
|
$
|
6
|
$
|
21
|
$
|
23
|
$
|
28
|
$
|
28
|
$
|
27
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Fixed charges, as above
|
52
|
105
|
102
|
121
|
114
|
143
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Total fixed charges and preferred stock dividends
|
$
|
58
|
$
|
126
|
$
|
125
|
$
|
149
|
$
|
142
|
$
|
170
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Ratio of earnings to combined fixed charges and
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preferred stock dividends
|
2.6
|
2.9
|
2.4
|
2.3
|
2.8
|
2.3
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(a)
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Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
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(b)
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Interest on unrecognized tax benefits is not included in fixed charges.
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