EX-12.E 12 ppl-12312017ex12e.htm EXHIBIT 12.E

Exhibit 12(e) |
KENTUCKY UTILITIES COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
| Year |  | Year |  | Year |  | Year |  | Year
| Ended |  | Ended |  | Ended |  | Ended |  | Ended
| Dec. 31, |  | Dec. 31, |  | Dec. 31, |  | Dec. 31, |  | Dec. 31,
| 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Earnings, as defined: |  |  |  |  |  |  |  |  |  |
Income Before Income Taxes | $ | 418 |  |  | $ | 428 |  |  | $ | 374 |  |  | $ | 355 |  |  | $ | 360 |
Adjustment to reflect earnings from equity method investments on a cash basis | 1 |  |  | (1 | ) |  | (1 | ) |  | (1 | ) |  | (1 | )
| 419 |  |  | 427 |  |  | 373 |  |  | 354 |  |  | 359 |
Total fixed charges as below | 100 |  |  | 100 |  |  | 86 |  |  | 80 |  |  | 73 |
Total earnings | $ | 519 |  |  | $ | 527 |  |  | $ | 459 |  |  | $ | 434 |  |  | $ | 432 |
Fixed charges, as defined: |  |  |  |  |  |  |  |  |
Interest charges (a) | $ | 96 |  |  | $ | 96 |  |  | $ | 82 |  |  | $ | 77 |  |  | $ | 70 |
Estimated interest component of operating rentals | 4 |  |  | 4 |  |  | 4 |  |  | 3 |  |  | 3 |
Total fixed charges | $ | 100 |  |  | $ | 100 |  |  | $ | 86 |  |  | $ | 80 |  |  | $ | 73 |
Ratio of earnings to fixed charges | 5.2 |  |  | 5.3 |  |  | 5.3 |  |  | 5.4 |  |  | 5.9 |

(a) | Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.