EX-12 5 exh_122.htm EXHIBIT 12.2 - KCPL RATIO TO EARNINGS COMPUTATION

Exhibit 12.2

KANSAS CITY POWER & LIGHT COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

2002 2001 2000 1999 1998
(Thousands)
Income before extraordinary item                        
   and cumulative effect of changes  
   in accounting principle   $ 102,666   $ 126,896   $ 128,631   $ 81,915   $ 120,722  
Add:  
Equity investment losses    -    (24,514 )  19,441    24,951    11,683  
Minority interests in subsidiaries    -    (897 )  -    1    (2,222 )
    Income subtotal    102,666    101,485    148,072    106,867    130,183  
  
Add:  
Taxes on income    62,857    39,389    53,166    3,180    32,800  
Kansas City earnings tax    635    583    421    602    864  
    Total taxes on income    63,492    39,972    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    63,845    78,915    60,956    51,327    57,012  
Interest on short-term debt    1,218    8,883    11,537    4,362    295  
Mandatorily redeemable Preferred  
    Securities    12,450    12,450    12,450    12,450    12,450  
Other interest expense  
    and amortization    3,772    5,188    2,927    3,573    4,457  
  
    Total fixed charges    88,378    116,115    99,676    80,289    82,696  
  
Earnings before taxes on  
     income and fixed charges    254,536    257,572    301,335    190,938    246,543  
  
Ratio of earnings to fixed charges    2.88    2.22    3.02    2.38    2.98