EX-12 9 ex12_1.htm KCPL

Exhibit 12.1

GREAT PLAINS ENERGY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Year to Date
September 30
2003 2002 2001 2000 1999 1998
(Thousands)
Income (loss) from continuing operations                            
   before cumulative effect of changes  
   in accounting principles   $ 157,890   $133,155 $(16,966 ) $ 128,631   $ 81,915   $ 120,722  
Add:  
Equity investment (income) loss    1,711    1,173    (24,639 )  19,441    24,951    11,683  
Minority interests in subsidiaries    -    -    (897 )  -    1    (2,222 )
     Income subtotal    159,601    134,328    (42,502 )  148,072    106,867    130,183  
   
Add:  
Taxes on income    66,578    48,275    (26,813 )  53,166    3,180    32,800  
Kansas City earnings tax    789    635    583    421    602    864  
     Total taxes on income    67,367    48,910    (26,230 )  53,587    3,782    33,664  
   
Interest on value of leased  
     property    4,807    7,093    10,679    11,806    8,577    8,482  
Interest on long-term debt    42,138    65,837    83,581    60,956    51,327    57,012  
Interest on short-term debt    4,245    6,312    9,915    11,537    4,362    295  
Mandatorily redeemable Preferred  
     Securities    9,337    12,450    12,450    12,450    12,450    12,450  
Other interest expense  
     and amortization    3,021    3,760    5,188    2,927    3,573    4,457  
     Total fixed charges    63,548    95,452    121,813    99,676    80,289    82,696  
   
Earnings before taxes on  
      income and fixed charges    290,516    278,690    53,081    301,335    190,938    246,543  
   
Ratio of earnings to fixed charges    4.57    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.