Exhibit 12(b) PENNSYLVANIA POWER & LIGHT COMPANY AND SUBSIDIARIES, CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars) 1996 1995 1994 1993 1992 Fixed charges, as defined: Interest on long-term debt ................... $207 $213 $214 $226 $240 Interest on short-term debt and other interest ........................ 11 18 18 13 12 Amortization of debt discount, expense and premium - net........................... 2 2 2 2 1 Interest on capital lease obligations Charged to expense ....................... 13 15 12 9 10 Capitalized .............................. 2 2 1 1 2 Estimated interest component of operating rentals .......................... 8 8 6 5 5 Proportionate share of fixed charges of 50-percent-or-less-owned persons .................................... 1 1 1 1 2 Total fixed charges .................. $244 $259 $254 $257 $272 Earnings, as defined: Net income ................................... $357 $352 $243 $348 $346 Less undistributed income of less than 50-percent-owned persons ............. - 357 352 243 348 346 Add (Deduct): Federal income taxes ......................... 189 195 199 163 145 State income taxes ........................... 64 62 77 64 65 Deferred income taxes ........................ 10 15 (45) 22 33 Investment tax credit - net .................. (10) (11) (12) (14) (14) Income taxes on other income and deductions - net ........................... (2) 26 (38) (1) 0 Amortization of capitalized interest on capital leases ................. 4 6 9 12 13 Total fixed charges as above (excluding capitalized interest on capital lease obligations) .............. 243 257 253 256 271 Total earnings ....................... $855 $902 $686 $850 $859 Ratio of earnings to fixed charges ...................................... 3.50 3.48 2.70 3.31 3.15