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- S-4 Registration of securities issued in business combination transactions
- 3 EX-3.(A)
- 3 EX-3.(B)
- 4 EX-4.(C)-3
- 4 EX-4.(C)-4
- 5 EX-5.(A)
- 5 EX-5.(B)
- 10 EX-10.(F)
- 10 EX-10.(G)
- 10 EX-10.(H)
- 10 EX-10.(I)
- 10 EX-10.(J)
- 10 EX-10.(K)
- 10 EX-10.(L)
- 10 EX-10.(M)-1
- 10 EX-10.(M)-2
- 10 EX-10.(N)-1
- 10 EX-10.(N)-2
- 10 EX-10.(N)-3
- 10 EX-10.(P)-1
- 10 EX-10.(P)-2
- 10 EX-10.(Q)-1
- 10 EX-10.(Q)-2
- 10 EX-10.(R)-1
- 10 EX-10.(R)-2
- 10 EX-10.(S)-1
- 10 EX-10.(S)-2
- 10 EX-10.(T)
- 10 EX-10.(U)
- 10 EX-10.(V)-1
- 10 EX-10.(V)-2
- 10 EX-10.(V)-3
- 10 EX-10.(V)-4
- 10 EX-10.(V)-5
- 10 EX-10.(V)-6
- 10 EX-10.(W)-1
- 10 EX-10.(W)-2
- 10 EX-10.(W)-3
- 10 EX-10.(W)-4
- 10 EX-10.(W)-5
- 10 EX-10.(X)-1
- 10 EX-10.(X)-2
- 10 EX-10.(X)-3
- 10 EX-10.(Y)
- 10 EX-10.(Z)
- 10 EX-10.(AA)
- 12 EX-12.(A)
- 16 EX-16.(A)
- 21 EX-21.(A)
- 23 EX-23.(A)
- 24 EX-24.(A)
- 25 EX-25.(A)
- 99 EX-99.(A)
- 99 EX-99.(B)
- 99 EX-99.(C)
- 99 EX-99.(D)
Exhibit 12(a)
LG&E and KU Energy LLC Ratio of
Earnings to Fixed Charges
For the Periods as Shown
($ millions)
|
|
|
| 2006 |
| 2007 |
| 2008 |
| 2009 |
| January |
| November |
| ||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Income from continuing operations before income taxes |
|
|
| $ | 310 |
| $ | 332 |
| $ | (1,536 | ) | $ | (1,235 | ) | $ | 300 |
| $ | 70 |
|
Exclude amounts reflected in line above: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Undistributed income of Electric Energy, Inc. |
|
|
| 2 |
| 5 |
| — |
| (11 | ) | 4 |
| — |
| ||||||
Loss on impairment of Goodwill |
|
|
| — |
| — |
| (1,806 | ) | (1,493 | ) | — |
| — |
| ||||||
Mark to market impact of derivative instruments(1) |
|
|
| — |
| — |
| (34 | ) | 19 |
| 20 |
| (2 | ) | ||||||
Add fixed charges (see below) |
|
|
| 161 |
| 170 |
| 199 |
| 188 |
| 158 |
| 25 |
| ||||||
Total Earnings |
| (A) |
| $ | 469 |
| $ | 497 |
| $ | 503 |
| $ | 486 |
| $ | 434 |
| $ | 97 |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest expense |
|
|
| $ | 143 |
| $ | 155 |
| $ | 184 |
| $ | 176 |
| $ | 153 |
| $ | 24 |
|
Estimated interest component of rental expense(2) |
|
|
| 4 |
| 4 |
| 5 |
| 5 |
| 5 |
| 1 |
| ||||||
Estimated discontinued operations interest component of rental expense(2) |
|
|
| 10 |
| 10 |
| 10 |
| 5 |
| — |
| — |
| ||||||
Preferred stock dividends |
|
|
| 4 |
| 1 |
| — |
| — |
| — |
| — |
| ||||||
Total Fixed Charges |
| (B) |
| $ | 151 |
| $ | 160 |
| $ | 189 |
| $ | 181 |
| $ | 158 |
| $ | 25 |
|
Ratio of Earnings to Fixed Charges |
| (A) ÷ (B) |
| 2.91 |
| 2.92 |
| 2.53 |
| 2.34 |
| 2.75 |
| 3.88 |
|
(1) Represents unrealized gains or losses on derivative instruments recorded in the statements of income.
(2) Represents one-third of rentals charged to operating expense.