EX-12 4 exh_121.htm EXHIBIT 12.1 - GPE RATIO TO EARNINGS COMPUTATION

Exhibit 12.1

GREAT PLAINS ENERGY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


2002 2001 2000 1999 1998

(Thousands)
Income (loss) from continuing operations                        
   before cumulative effect of changes  
   in accounting principles   $ 133,155   $ (16,966 ) $ 128,631   $ 81,915   $ 120,722  
Add:  
Equity investment (income) loss    1,173    (24,639 )  19,441    24,951    11,683  
Minority interests in subsidiaries    -    (897 )  -    1    (2,222 )

      Income subtotal    134,328    (42,502 )  148,072    106,867    130,183  

  
Add:  
Taxes on income    48,275    (26,813 )  53,166    3,180    32,800  
Kansas City earnings tax    635    583    421    602    864  

      Total taxes on income    48,910    (26,230 )  53,587    3,782    33,664  

  
Interest on value of leased  
      property    7,093    10,679    11,806    8,577    8,482  
Interest on long-term debt    65,837    83,581    60,956    51,327    57,012  
Interest on short-term debt    6,312    9,915    11,537    4,362    295  
Mandatorily redeemable Preferred  
      Securities    12,450    12,450    12,450    12,450    12,450  
Other interest expense  
      and amortization    3,760    5,188    2,927    3,573    4,457  

  
      Total fixed charges    95,452    121,813    99,676    80,289    82,696  

  
Earnings before taxes on  
       income and fixed charges    278,690    53,081    301,335    190,938    246,543  

  
Ratio of earnings to fixed charges    2.92    (a)    3.02    2.38    2.98  

(a)  

A $68.7 million deficiency in earnings caused the ratio of earnings to fixed charges to be less than a one-to-one coverage. A $195.8 million net write-off before income taxes related to the bankruptcy filing of DTI was recorded in 2001.