SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 18, 1996
KENTUCKY UTILITIES COMPANY
(Exact name of registrant as specified in its charter)
KENTUCKY AND VIRGINIA 1-3464 61-0247570
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
ONE QUALITY STREET, LEXINGTON, KENTUCKY 40507
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (606) 255-2100
NOT APPLICABLE
(Former name or former address, if changed since last report)
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KENTUCKY UTILITIES COMPANY
Item 5. Other Information
SELECTED INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1995
(UNAUDITED)
Customers Approximately 454,100
Sources of KWH Generation for the year
ended December 31, 1995 99% coal and 1% other
Estimated 1996-2000 Construction
Expenditures (including Environmental
Compliance of approximately $10 million) $541 million
Selected Financial Information
(Dollars in Thousands)
Selected Income Statement Data (unaudited):
Year Ended December 31, 1995
Operating Revenues $ 686,430
Income Before Interest Charges $ 116,849
Net Income $ 76,842
Ratio of Earnings to Fixed Charges (unaudited):
The ratio of earnings to fixed charges is computed by dividing
earnings by fixed charges. Earnings consist of net income plus fixed
charges, current income taxes, deferred income taxes-net and deferred
investment tax credit-net and excludes undistributed earnings of an
equity investment. Fixed charges consist of interest on long-term
debt (net of amortization and debt discount, premium and expense) and
other interest charges.
Year Ended December 31, 1995
Ratio of Earnings to Fixed Charges 3.94
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Capitalization (unaudited):
Capitalization of Kentucky Utilities Company as of December 31,
1995, as adjusted, gives effect to the sale of $36 million of first
mortgage bonds and the use of the estimated net proceeds thereof
to retire $35.5 million of currently outstanding first mortgage bonds.
As of December 31, 1995
Percent of
Capitalization
Actual As Adjusted As Adjusted
Long-Term Debt, including
unamortized premium $ 546,001 $ 546,501 47.0%
Preferred Stock 40,000 40,000 3.4
Common Stock Equity 576,537 576,537 49.6
Total Capitalization $1,162,538 $1,163,038 100.0%
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits.
The following exhibit is filed as part of this report:
Exhibit
Number Description
12.01 Computation of Ratio of Earnings to Fixed
Charges.
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KENTUCKY UTILITIES COMPANY
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
KENTUCKY UTILITIES COMPANY
(Registrant)
Date January 18, 1996 /s/ Michael R. Whitley
Michael R. Whitley
Chairman of the Board and
Chief Executive Officer
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EXHIBIT 12.01
KENTUCKY UTILITIES COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
12 Months Ended
Dec. 31, 1995
(in thousands,
except ratio)
Earnings
Net Income $ 76,842
Adjustments
Fixed charges 40,116
Income taxes -
Current Federal 23,597
Current State 5,134
Deferred Federal-Net 12,165
Deferred State-Net 3,845
Deferred investment tax credit-Net (71)
Income taxes included in Other Income
and Deductions -
Current Federal and State 1,044
Deferred Federal and State (508)
Amortization of investment tax credit (4,024)
Undistributed income of Electric
Energy, Inc. 99
Total Earnings $158,239
Fixed Charges
Interest on long-term debt $ 36,094
Other interest charges 4,022
Total Fixed Charges $ 40,116
Ratio of Earnings to Fixed Charges 3.94
Note--Rentals are not material and have not been included in fixed
charges.
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