PPL ENERGY SUPPLY, LLC AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars) | |||||||||||||||||||||||||
2002 (b) | 2001 (b) | 2000 (b) | 1999 | 1998 | |||||||||||||||||||||
Fixed charges, as defined: | |||||||||||||||||||||||||
Interest on long-term debt | $ | 169 | $ | 36 | $ | 54 | $ | 20 | $ | 11 | |||||||||||||||
Interest on short-term debt and other interest | 52 | 33 | 75 | 32 | 14 | ||||||||||||||||||||
Amortization of debt discount, expense and premium - net | 9 | 2 | 11 | 1 | |||||||||||||||||||||
Estimated interest component of operating rentals | 23 | 19 | 9 | ||||||||||||||||||||||
Preferred stock dividends of subsidiaries on a pre-tax basis | 12 | ||||||||||||||||||||||||
Total fixed charges | $ | 265 | $ | 90 | $ | 149 | $ | 53 | $ | 25 | |||||||||||||||
Earnings, as defined: | |||||||||||||||||||||||||
Net income (loss) (a) | $ | 507 | $ | 168 | $ | 246 | $ | (20 | ) | $ | 12 | ||||||||||||||
Preferred security dividend requirement | 9 | ||||||||||||||||||||||||
Less undistributed income (loss) of equity method investments | (22 | ) | 20 | 74 | 56 | 3 | |||||||||||||||||||
538 | 148 | 172 | (76 | ) | 9 | ||||||||||||||||||||
Add: | |||||||||||||||||||||||||
Income taxes (benefit) | 266 | 274 | 125 | (29 | ) | (6 | ) | ||||||||||||||||||
Total fixed charges as above (excluding capitalized interest and preferred stock dividends of subsidiaries on a pre-tax basis) | 234 | 66 | 135 | 52 | 24 | ||||||||||||||||||||
Total earnings | $ | 1,038 | $ | 488 | $ | 432 | $ | (53 | ) | $ | 27 | ||||||||||||||
Ratio of earnings to fixed charges | 3.9 | 5.4 | 2.9 | (1.0 | ) | 1.1 | |||||||||||||||||||
Deficiency | $ | 106 | |||||||||||||||||||||||
(a) | Net income (loss) excludes minority interest and the cumulative effect of a change in accounting principle. | ||||||||||||||||||||||||
(b) | Due to the corporate realignment on July 1, 2000, data in 2000 and subsequent years are not comparable to prior years. See Note 19 to the Financial Statements for additional information. |