EX-12.1 10 ex12-1.htm COMPUTATION OF 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
                    
     
    2009
2008
2007
2006
2005
2004
     
(millions)
Income from continuing operations
  
$
 21.7  
$
 119.5  
$
 120.9  
$
 136.7  
$
 135.1  
$
 132.3  
Add
                                      
Minority interests in subsidiaries
     -     0.2     -     -     7.8     (5.1 )
Equity investment loss
     0.1     1.3     2.0     1.9     0.4     1.5  
Income subtotal
     21.8     121.0     122.9     138.6     143.3     128.7  
                                         
Add
                                      
Taxes on income
     (26.3 )   63.8     44.9     60.3     22.2     30.7  
Kansas City earnings tax
     -     0.3     0.5     0.5     0.5     0.5  
Total taxes on income
     (26.3 )   64.1     45.4     60.8     22.7     31.2  
                                         
Interest on value of leased property
     1.8     3.6     3.9     4.1     6.2     6.2  
Interest on long-term debt
     40.9     126.2     74.1     62.6     64.3     66.1  
Interest on short-term debt
     3.9     18.2     26.4     9.2     4.5     4.3  
Other interest expense and amortization (a)
     2.1     (1.4 )   5.8     3.9     4.3     13.6  
                                         
Total fixed charges
     48.7     146.6     110.2     79.8     79.3     90.2  
                                         
Earnings before taxes on
                                      
income and fixed charges
  
$
 44.2  
$
 331.7  
$
 278.5  
$
 279.2  
$
 245.3  
$
 250.1  
                                         
Ratio of earnings to fixed charges
  
(b)
     2.26     2.53     3.50     3.09     2.77  
                                         
(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.
(b)
A $4.5 million deficiency in earnings caused the ratio of earnings to fixed charges to be less than a one-to-one coverage.