EX-12.D 11 ppl-12312017ex12d.htm EXHIBIT 12.D

Exhibit 12(d) |
LOUISVILLE GAS AND ELECTRIC 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 | $ | 344 |  |  | $ | 329 |  |  | $ | 299 |  |  | $ | 272 |  |  | $ | 257 |
Total fixed charges as below | 76 |  |  | 76 |  |  | 61 |  |  | 51 |  |  | 36 |
Total earnings | $ | 420 |  |  | $ | 405 |  |  | $ | 360 |  |  | $ | 323 |  |  | $ | 293 |
Fixed charges, as defined: |  |  |  |  |  |  |  |  |
Interest charges (a) (b) | $ | 71 |  |  | $ | 71 |  |  | $ | 57 |  |  | $ | 49 |  |  | $ | 34 |
Estimated interest component of operating rentals | 5 |  |  | 5 |  |  | 4 |  |  | 2 |  |  | 2 |
Total fixed charges | $ | 76 |  |  | $ | 76 |  |  | $ | 61 |  |  | $ | 51 |  |  | $ | 36 |
Ratio of earnings to fixed charges | 5.5 |  |  | 5.3 |  |  | 5.9 |  |  | 6.3 |  |  | 8.1 |

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

(b) | Includes a credit for amortization of a fair market value adjustment of $7 million in 2013.