EX-12 16 ex12_2.htm RATIO OF EARNINGS TO FIXED CHARGES - KCPL

Exhibit 12.2

KANSAS CITY POWER & LIGHT COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

2003 2002 2001 2000 1999
(Thousands)
Income from continuing operations                        
   before cumulative effect of changes  
   in accounting principle   $ 125,845   $ 102,666   $ 126,896   $ 128,631   $ 81,915  
Add:  
Equity investment (income) loss    -    -    (24,514 )  19,441    24,951  
Minority interests in subsidiaries    (1,263 )  -    (897 )  -    1  

    Income subtotal    124,582    102,666    101,485    148,072    106,867  

   
Add:  
Taxes on income    83,572    62,857    39,389    53,166    3,180  
Kansas City earnings tax    418    635    583    421    602  

    Total taxes on income    83,990    63,492    39,972    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    57,697    63,845    78,915    60,956    51,327  
Interest on short-term debt    560    1,218    8,883    11,537    4,362  
Mandatorily redeemable Preferred  
    Securities    9,338    12,450    12,450    12,450    12,450  
Other interest expense  
    and amortization    4,067    3,772    5,188    2,927    3,573  

   
    Total fixed charges    77,606    88,378    116,115    99,676    80,289  

   
Earnings before taxes on  
     income and fixed charges   $286,178   $254,536   $257,572   $301,335   $190,938  

   
Ratio of earnings to fixed charges    3.69    2.88    2.22    3.02    2.38