Exhibit 12
PP&L RESOURCES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
12 Months
Ended
September 30, 1997 1996 1995 1994 1993 1992
Fixed charges, as defined:
Interest on long-term debt .................... $198 $207 $213 $214 $226 $240
Interest on short-term debt
and other interest ......................... 25 17 18 18 13 12
Amortization of debt discount, expense
and premium - net............................ 2 2 2 2 2 1
Interest on capital lease
obligations
Charged to expense ........................ 11 13 15 12 9 10
Capitalized ............................... 2 2 2 1 1 2
Estimated interest component of
operating rentals ........................... 18 8 8 6 5 5
Proportionate share of fixed charges
of 50-percent-or-less-owned
persons ..................................... 1 1 1 1 1 1
Total fixed charges ................... $257 $250 $259 $254 $257 $271
Earnings, as defined:
Net income .................................... $286 $329 $323 $216 $314 $306
Preferred and Preference Stock Dividend
Requirements................................. 24 28 28 28 34 40
Less undistributed income of less
than 50-percent-owned persons ............... - - - - - -
310 357 351 244 348 346
Add (Deduct):
Federal income taxes .......................... 169 189 195 198 163 145
State income taxes ............................ 54 64 62 77 64 65
Deferred income taxes ......................... 39 10 15 (45) 22 33
Investment tax credit - net ................... (10) (10) (10) (12) (14) (14)
Income taxes on other income and
deductions - net ............................ 5 0 24 (38) (1) 0
Amortization of capitalized
interest on capital leases .................. 3 4 5 9 12 13
Total fixed charges as above
(excluding capitalized interest
on capital lease obligations) ............... 255 248 257 253 256 271
Total earnings ........................ $825 $862 $899 $686 $850 $859
Ratio of earnings to fixed
charges ....................................... 3.21 3.45 3.47 2.70 3.31 3.15