EX-12 2 ex12-1.htm RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document

                   
Exhibit 12.1
                           
                           
GREAT PLAINS ENERGY
                           
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                           
 
Three Months Ended
                  
 
 
March 31
 
  
 
  
 
  
 
  
 
  
 
 
2007
2006
2005
2004
2003
2002
   
(thousands)
  
Income from continuing operations
  
$
23,366
 
$
127,630
  
$
164,197
  
$
175,271
  
$
189,230
  
$
136,194
 
Add
                                      
Minority interests in subsidiaries
    
-
   
- 
    
7,805
 
  
(2,131
)
  
(1,263
 )  
-
 
Equity investment (income) loss
    
379
    
1,932
   
434
    
1,531
   
2,018
   
1,173
 
Income subtotal
    
23,745
 
  
129,562
    172,436    
174,671
    
189,985 
    
137,367
 
                                       
Add
                                      
Taxes on income
    
11,064
 
  
47,822
   
39,462
    
55,391
    
78,263
    
51,023
 
Kansas City earnings tax
    
(16
 )   
544
   
 498
    
602
    
418 
    
635
 
Total taxes on income
    
11,048
 
  
48,366
   
 39,960
    
55,993
    
78,681 
    
51,658
 
                                       
Interest on value of leased property
    
905
    
4,144
   
6,229
    
6,222
   
5,944
   
7,093
 
Interest on long-term debt
    
14,449
    
62,643
   
64,349
    
66,128
   
58,847
   
65,837
 
Interest on short-term debt
    
5,977
    
9,057
   
 5,145
     4,837    
5,442
   
6,312
 
Mandatorily Redeemable Preferred
                                      
Securities
    
-
   
-
   
 -
    
-
    
9,338
   
12,450
 
Other interest expense and amortization (a)
    
4,482
    
5,207
   
5,891
    
13,563
   
3,912
   
3,760
 
                                       
Total fixed charges
    
25,813
    
81,051
   
81,614
    
90,750
   
83,483
   
95,452
 
                                       
Earnings before taxes on
                                      
income and fixed charges
  
$
60,606
  
$
258,979
  
$
294,010
  
$
321,414
  
$
352,149
  
$
284,477
  
                                       
Ratio of earnings to fixed charges
    
2.35
 
  
3.20
   
 3.60
    
3.54
    
4.22
    
2.98
 
                                       
 (a) During the three months ended March 31, 2007, Great Plains Energy adopted FIN No. 48, "Accounting for Uncertainty in Income Taxes," and along with the adoption, elected to make an accounting policy change to recognize interest related to uncertain tax positions in interest expense.