PPL ENERGY SUPPLY, LLC AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars) | |||||||||||||||||||||||
12 Months Ended March 31, | 12 Months Ended December 31, | ||||||||||||||||||||||
2002 (b) | 2001 (b) | 2000 (b) | 1999 | 1998 | 1997 | ||||||||||||||||||
| Fixed charges, as defined: | |||||||||||||||||||||||
| Interest on long-term debt | $ | 53 | $ | 36 | $ | 54 | $ | 20 | $ | 11 | $ | 1 | |||||||||||
| Interest on short-term debt and other interest | 11 | 33 | 75 | 32 | 14 | 11 | |||||||||||||||||
| Amortization of debt discount, expense and premium - net | 4 | 2 | 11 | 1 | |||||||||||||||||||
| Estimated interest component of operating rentals | 19 | 19 | 9 | ||||||||||||||||||||
| Total fixed charges | $ | 87 | $ | 90 | $ | 149 | $ | 53 | $ | 25 | $ | 12 | |||||||||||
| Earnings, as defined: | |||||||||||||||||||||||
| Net income(loss) (a) | $ | 112 | $ | 168 | $ | 246 | $ | (20) | $ | 12 | $ | (15 | ) | ||||||||||
| Less undistributed income of equity method investments | 5 | 20 | 74 | 56 | 3 | (25 | ) | ||||||||||||||||
| $ | 107 | $ | 148 | $ | 172 | $ | (76) | $ | 9 | $ | 10 | ||||||||||||
| Add (Deduct): | |||||||||||||||||||||||
| Income taxes | 230 | 274 | 124 | (29) | (6) | (1 | ) | ||||||||||||||||
| Total fixed charges as above (excluding capitalized interest on capital lease obligations) | 87 | 90 | 149 | 53 | 25 | 12 | |||||||||||||||||
| Total earnings | $ | 424 | $ | 512 | $ | 445 | $ | (52) | $ | 28 | $ | 21 | |||||||||||
| Ratio of earnings to fixed charges | 4.9 | 5.7 | 3.0 | (1.0) | 1.1 | 1.8 | |||||||||||||||||
| Deficiency | $ | 0 | $ | 0 | $ | 0 | $ | 105 | $ | 0 | $ | 0 | |||||||||||
| (a) | Net income excludes minority interest and the cumulative effect of a change in accounting principle. | ||||||||||||||||||||||
| (b) | Due to the corporate realignment on July 1, 2000, data subsequent to 2000 is not comparable to prior years. See Note 16 in PPL Energy Supply's Form 10-K for the year ended December 31, 2001 for additional information. | ||||||||||||||||||||||