It has been recently shown by Nakatsuji, Pines, and Fisk [S. Nakatsuji, D. Pines, and Z. Fisk, Phys. Rev. Lett. 92, 016401 (2004)] from the phenomenological analysis of experiments in Ce1-xLaxCoIn5 and CeIrIn5 that thermodynamic and transport properties of Kondo lattices below coherence temperature can be very successfully described in terms of a two-fluid model, with Kondo impurity and heavy electron Fermi liquid contributions. We analyze thermodynamic properties of Kondo lattices using 1/N slave boson treatment of the periodic Anderson model and show that these two contributions indeed arise below the coherence temperature. We find that the Kondo impurity contribution to thermodynamics corresponds to thermal excitations into the flat portion of the energy spectrum.