EX-12 11 ex-12.htm SCHEDULE OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12

KANSAS CITY POWER & LIGHT COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Year to date
June 30

2003 2002 2001 2000 1999 1998

(Thousands)
Income from continuing operations                            
   before cumulative effect of changes    
   in accounting principle       35,058   $ 102,666   $ 126,896   $ 128,631   $ 81,915   $ 120,722  
Add:    
Equity investment (income) loss       -     -     (24,514 )   19,441     24,951     11,683  
Minority interests in subsidiaries       -     -     (897 )   -     1     (2,222 )

    Income subtotal       35,058     102,666     101,485     148,072     106,867     130,183  

 
Add:    
Taxes on income       24,044     62,857     39,389     53,166     3,180     32,800  
Kansas City earnings tax       276     635     583     421     602     864  

    Total taxes on income       24,320     63,492     39,972     53,587     3,782     33,664  

 
Interest on value of leased    
    property       3,717     7,093   10,679   11,806     8,577     8,482  
Interest on long-term debt       27,693     63,845     78,915     60,956     51,327     57,012  
Interest on short-term debt       225     1,218     8,883     11,537     4,362     295  
Mandatorily redeemable Preferred    
    Securities       6,225     12,450     12,450     12,450     12,450     12,450  
Other interest expense    
    and amortization       2,078     3,772     5,188     2,927     3,573     4,457  

 
    Total fixed charges       39,938     88,378     116,115     99,676     80,289     82,696  

 
Earnings before taxes on    
     income and fixed charges       99,316     254,536     257,572     301,335     190,938     246,543  

 
Ratio of earnings to fixed charges       2.49     2.88     2.22     3.02     2.38     2.98