EXHIBIT 12
PPL ENERGY SUPPLY, LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars)
12
Months Ended
12 Months
December 31,
Ended
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September 30,
2001 2000 1999 1998 1997 1996
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Fixed charges, as defined:
Interest on long-term debt ......................... $ 41,132 $ 53,803 $ 19,822 $ 10,762 $ 808 $ 0
Interest on short-term debt
and other interest ............................... 49,874 75,231 32,023 14,318 10,728 2,351
Amortization of debt discount, expense
and premium - net ................................ 11,098 11,098 568 0 0 0
Interest on capital lease obligations:
Charged to expense ............................... 0 0 0 0 0 0
Capitalized ...................................... 0 0 0 0 0 0
Estimated interest component of
operating rentals ................................ 18,972 8,742 401 124 158 119
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Total fixed charges .......................... $ 121,076 $ 148,874 $ 52,814 $ 25,204 $ 11,694 $ 2,470
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Earnings, as defined:
Net income(a) ...................................... $ 617,000 $ 245,947 ($ 20,462) $ 12,330 ($ 14,771) ($ 891)
Preferred security dividend
requirements ..................................... 0 0 0 0 0 0
Less undistributed income of
equity method investments ........................ 66,773 74,159 55,539 3,250 (25,282) 8,028
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550,227 171,788 (76,001) 9,080 10,511 (8,919)
Add (Deduct):
Income taxes ....................................... 319,940 124,528 (29,183) (6,098) (1,613) (478)
Amortization of capitalized interest
on capital leases ................................ 0 0 0 0 0 0
Total fixed charges as above
(excluding capitalized interest
on capital lease obligations) .................... 121,076 148,874 52,814 25,204 11,694 2,470
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Total earnings ............................... $ 991,243 $ 445,190 ($ 52,370) $ 28,186 $ 20,592 ($ 6,927)
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Ratio of earnings to fixed
charges ............................................ 8.19 2.99 (0.99) 1.12 1.76 (2.80)
========= ========= ========= ========= ========= =========
Deficiency ........................................... $ 0 $ 0 $ 105,184 $ 0 $ 0 $ 9,397
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(a) 2000 net income excluding extraordinary items.
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