Exhibit 12(b)
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
12 Months
Ended 12 Months Ended
March 31, December 31,
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2000 1999 1998 1997 1996
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Fixed charges, as defined:
Interest on long-term debt ....................... $217 $205 $188 $195 $207
Interest on short-term debt
and other interest ............................ 14 12 14 17 11
Amortization of debt discount, expense
and premium - net............................... 4 3 2 2 2
Interest on capital lease
obligations
Charged to expense ........................... 10 9 8 9 13
Capitalized .................................. 1 1 2 2 2
Estimated interest component of
operating rentals .............................. 19 19 18 15 8
Proportionate share of fixed charges
of 50-percent-or-less-owned
persons ........................................ 1 1 1 1
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Total fixed charges ...................... $265 $250 $233 $241 $244
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Earnings, as defined:
Net income (a).................................. 466 $444 $409 $348 $357
Less undistributed income of less
than 50-percent-owned persons ................. - - - -
--------------- ------------ -------------- ------------ ------------
466 444 409 348 357
Add (Deduct):
Income taxes ..................................... 156 151 273 248 251
Amortization of capitalized
interest on capital leases ..................... 2 2 2 2 4
Total fixed charges as above
(excluding capitalized interest
on capital lease obligations) .................. 264 249 231 239 243
--------------- ------------ -------------- ------------ ------------
Total earnings ........................... $888 $846 $915 $837 $855
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Ratio of earnings to fixed
charges (b) ...................................... 3.35 3.38 3.93 3.47 3.50
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(a) 2000, 1999 and 1998 net income excluding extraordinary items.
(b) Based on earnings excluding one-time adjustments, the ratio of earnings to
fixed charges are : March 2000, 3.10; 1999, 3.09; and 1998, 3.52
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