PPL Electric Utilities 10-Q 2015 Q3 Quarterly report

Exhibit 12(d)
LOUISVILLE GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
																Predeces-
				Successor (a)												sor (b)
				9 Months		Year		Year		Year		Year		2 Months		10 Months
				Ended		Ended		Ended		Ended		Ended		Ended		Ended
				Sept. 30,		Dec. 31,		Dec. 31,		Dec. 31,		Dec. 31,		Dec. 31,		Oct. 31,
				2015		2014		2013		2012		2011		2010		2010
Earnings, as defined:
	Income Before Income Taxes			$	237	$	272	$	257	$	192	$	195	$	29	$	167
	Mark to market impact of derivative
		instruments													1		(20)
					237		272		257		192		195		30		147
	Total fixed charges as below				42		51		36		44		46		8		40
			Total earnings	$	279	$	323	$	293	$	236	$	241	$	38	$	187
Fixed charges, as defined:
	Interest charges (c) (d)			$	39	$	49	$	34	$	42	$	44	$	8	$	38
	Estimated interest component of
	operating rentals				3		2		2		2		2				2
			Total fixed charges	$	42	$	51	$	36	$	44	$	46	$	8	$	40
Ratio of earnings fixed charges					6.6		6.3		8.1		5.4		5.2		4.8		4.7

(a)	Post-acquisition activity covering the time period after October 31, 2010.
(b)	Pre-acquisition activity covering the time period prior to November 1, 2010.
(c)	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.
(d)	Includes a credit for amortization of a fair market value adjustment of $7 million in 2013.

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