EX-12.1 11 ex12-1.htm GPE COMPUTATION OF RATIO OF EARNINGS STO FIXED CHARGES Unassociated Document

                   
Exhibit 12.1
                           
                           
GREAT PLAINS ENERGY
                           
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                           
 
Year to Date
                 
 
 
September 30
 
 
 
 
 
 
 
 
 
 
 
 
2007
2006
2005
2004
2003
2002
   
(thousands)
 
Income from continuing operations
 
$
111,149
 
$
127,630
 
$
164,197
 
$
175,271
 
$
189,230
 
$
136,194
 
Add
                                     
Minority interests in subsidiaries
   
-
   
   
7,805
 
 
(2,131
)
 
(1,263
)  
-
 
Equity investment loss
   
1,139
   
1,932
   
434
   
1,531
   
2,018
   
1,173
 
Income subtotal
   
112,288
 
 
129,562
    172,436    
174,671
   
189,985
   
137,367
 
                                       
Add
                                     
Taxes on income
   
46,020
 
 
47,822
   
39,462
   
55,391
   
78,263
   
51,023
 
Kansas City earnings tax
   
464
   
544
   
 498
   
602
   
418
   
635
 
Total taxes on income
   
46,484
 
 
48,366
   
 39,960
   
55,993
   
78,681
   
51,658
 
                                       
Interest on value of leased property
   
2,734
   
4,144
   
6,229
   
6,222
   
5,944
   
7,093
 
Interest on long-term debt
   
49,759
   
62,643
   
64,349
   
66,128
   
58,847
   
65,837
 
Interest on short-term debt
   
20,494
   
9,057
   
 5,145
    4,837    
5,442
   
6,312
 
Mandatorily Redeemable Preferred
                                     
Securities
   
-
   
-
   
 -
   
-
   
9,338
   
12,450
 
Other interest expense and amortization (a)
 
8,152
   
5,207
   
5,891
   
13,563
   
3,912
   
3,760
 
                                       
Total fixed charges
   
81,139
   
81,051
   
81,614
   
90,750
   
83,483
   
95,452
 
                                       
Earnings before taxes on
                                     
income and fixed charges
 
$
239,911
 
$
258,979
 
$
294,010
 
$
321,414
 
$
352,149
 
$
284,477
 
                                       
Ratio of earnings to fixed charges
   
2.96
 
 
3.20
   
 3.60
   
3.54
   
4.22
   
2.98
 
                                       
 (a)  On January 1, 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.