Exhibit 12(A)
PP&L RESOURCES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
1998 1997 1996 1995 1994
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Fixed charges, as defined:
Interest on long-term debt...................... $203 $196 $207 $213 $214
Interest on short-term debt
and other interest........................... 33 26 17 18 18
Amortization of debt discount, expense
and premium - net............................. 2 2 2 2 2
Interest on capital lease
obligations
Charged to expense.......................... 8 9 13 15 12
Capitalized................................. 2 2 2 2 1
Estimated interest component of
operating rentals............................. 18 15 8 8 6
Proportionate share of fixed charges
of 50-percent-or-less-owned
persons....................................... 1 1 1 1 1
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Total fixed charges..................... $267 $251 $250 $259 $254
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Earnings, as defined:
Net income (a).................................. $379 $296 $329 $323 $216
Preferred and Preference Stock Dividend
Requirements.................................. 25 24 28 28 28
Less undistributed income of less
than 50-percent-owned persons................. - - - - -
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404 320 357 351 244
Add (Deduct):
Income taxes.................................... 259 238 253 286 180
Amortization of capitalized interest
on capital leases............................ 2 2 4 5 9
Total fixed charges as above
(excluding capitalized interest
on capital lease obligations)................. 265 248 248 257 253
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Total earnings.......................... $930 $808 $862 $899 $686
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Ratio of earnings to fixed
charges......................................... 3.48 3.22 3.45 3.47 2.70
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(a) 1998 net income excluding extraordinary items.