PPL Corp - FORM 10-Q - EX-12.A - EXHIBIT 12A - April 29, 2016

Attached files

file filename
EX-32.A - EXHIBIT 32.A - PPL Corpexhibit32a.htm
EX-12.D - EXHIBIT 12D - PPL Corpexhibit12d.htm
EX-12.E - EXHIBIT 12E - PPL Corpexhibit12e.htm
EX-31.B - EXHIBIT 31.B - PPL Corpexhibit31b.htm
10-Q - FORM 10-Q - PPL Corpform10q.htm
EX-32.C - EXHIBIT 32.C - PPL Corpexhibit32c.htm
EX-31.F - EXHIBIT 31.F - PPL Corpexhibit31f.htm
EX-31.A - EXHIBIT 31.A - PPL Corpexhibit31a.htm
EX-31.D - EXHIBIT 31.D - PPL Corpexhibit31d.htm
EX-32.E - EXHIBIT 32.E - PPL Corpexhibit32e.htm
EX-32.D - EXHIBIT 32.D - PPL Corpexhibit32d.htm
EX-31.G - EXHIBIT 31.G - PPL Corpexhibit31g.htm
EX-31.E - EXHIBIT 31.E - PPL Corpexhibit31e.htm
EX-32.B - EXHIBIT 32.B - PPL Corpexhibit32b.htm
EX-31.J - EXHIBIT 31.J - PPL Corpexhibit31j.htm
EX-31.C - EXHIBIT 31.C - PPL Corpexhibit31c.htm
EX-31.H - EXHIBIT 31.H - PPL Corpexhibit31h.htm
EX-12.C - EXHIBIT 12C - PPL Corpexhibit12c.htm
EX-12.B - EXHIBIT 12B - PPL Corpexhibit12b.htm
EX-31.I - EXHIBIT 31.I - PPL Corpexhibit31i.htm

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, (a)  
            2016   2015   2014   2013   2012   2011  
Earnings, as defined:                                    
    Income from Continuing Operations Before                                    
      Income Taxes $ 660   $ 2,068   $ 2,129   $ 1,728   $ 1,406   $ 922  
    Adjustment to reflect earnings from equity method                                    
      investments on a cash basis (b)         (1)                 34        
          660     2,067     2,129     1,728     1,440     922  
                                               
    Total fixed charges as below   230     1,054     1,095     1,096     1,065     1,022  
        Less:                                    
        Capitalized interest   1     11     11     11     6     4  
        Preferred security distributions of subsidiaries                                    
          on a pre-tax basis                           5     23  
        Interest expense and fixed charges related to                                    
          discontinued operations         150     186     235     235     231  
    Total fixed charges included in Income from                                    
      Continuing Operations Before Income Taxes   229     893     898     850     819     764  
                                               
        Total earnings $ 889   $ 2,960   $ 3,027   $ 2,578   $ 2,259   $ 1,686  
                                               
Fixed charges, as defined:                                    
    Interest charges (c) $ 227   $ 1,038   $ 1,073   $ 1,058   $ 1,019   $ 955  
    Estimated interest component of operating rentals   3     16     22     38     41     44  
    Preferred security distributions of subsidiaries                                    
      on a pre-tax basis                           5     23  
                                               
        Total fixed charges (d) $ 230   $ 1,054   $ 1,095   $ 1,096   $ 1,065   $ 1,022  
                                               
Ratio of earnings to fixed charges   3.9     2.8     2.8     2.4     2.1     1.7  
Ratio of earnings to combined fixed charges and                                    
  preferred stock dividends (e)   3.9     2.8     2.8     2.4     2.1     1.7  

 

(a)   Reflects PPL's former Supply segment as Discontinued Operations.  See Note 8 to the Financial Statements for additional information.
(b)   Includes other-than-temporary impairment loss of $25 million in 2012.
(c)   Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(d)   Interest on unrecognized tax benefits is not included in fixed charges.
(e)   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.

 

 

 

 

97

PPL Corp Reports