EX-12 6 ex12_1.htm RATIO OF EARNINGS TO FIXED CHARGES - GPE

Exhibit 12.1

GREAT PLAINS ENERGY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


2003 2002 2001 2000 1999

(Thousands)
Income (loss) from continuing operations                        
   before cumulative effect of changes  
   in accounting principles   $ 153,613   $ 133,155   $ (16,966 ) $ 128,631   $ 81,915  
Add:  
Equity investment (income) loss    2,018    1,173    (24,639 )  19,441    24,951  
Minority interests in subsidiaries    (1,263 )  -    (897 )  -    1  

     Income subtotal    154,368    134,328    (42,502 )  148,072    106,867  

   
Add:  
Taxes on income    55,514    48,275    (26,813 )  53,166    3,180  
Kansas City earnings tax    418    635    583    421    602  

     Total taxes on income    55,932    48,910    (26,230 )  53,587    3,782  

   
Interest on value of leased  
     property    5,944    7,093    10,679    11,806    8,577  
Interest on long-term debt    58,847    65,837    83,581    60,956    51,327  
Interest on short-term debt    5,442    6,312    9,915    11,537    4,362  
Mandatorily redeemable Preferred  
     Securities    9,338    12,450    12,450    12,450    12,450  
Other interest expense  
     and amortization    3,912    3,760    5,188    2,927    3,573  

   
     Total fixed charges    83,483    95,452    121,813    99,676    80,289  

   
Earnings before taxes on  
      income and fixed charges   $293,783   $278,690   $53,081   $301,335   $190,938  

   
Ratio of earnings to fixed charges    3.52    2.92    (a)    3.02    2.38  


(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.