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Exhibit 12.1
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GREAT PLAINS ENERGY INCORPORATED
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three Months Ended
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March 31
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2012
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2011
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2010
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2009
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2008
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2007
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(millions)
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Income (loss) from continuing operations
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$ | (9.3 | ) | $ | 174.2 | $ | 211.9 | $ | 151.9 | $ | 119.7 | $ | 120.9 | ||||||
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Add
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Equity investment loss
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- | 0.1 | 1.0 | 0.4 | 1.3 | 2.0 | |||||||||||||
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Income subtotal
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(9.3 | ) | 174.3 | 212.9 | 152.3 | 121.0 | 122.9 | ||||||||||||
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Add
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Income tax expense (benefit)
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(9.5 | ) | 84.8 | 99.0 | 29.5 | 63.8 | 44.9 | ||||||||||||
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Kansas City earnings tax
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- | - | 0.1 | 0.4 | 0.3 | 0.5 | |||||||||||||
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Total taxes on income
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(9.5 | ) | 84.8 | 99.1 | 29.9 | 64.1 | 45.4 | ||||||||||||
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Interest on value of leased property
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1.4 | 5.9 | 6.2 | 6.5 | 3.6 | 3.9 | |||||||||||||
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Interest on long-term debt
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64.0 | 223.2 | 218.9 | 203.6 | 126.2 | 74.1 | |||||||||||||
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Interest on short-term debt
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2.0 | 11.8 | 9.7 | 10.3 | 18.2 | 26.4 | |||||||||||||
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Other interest expense and amortization (a)
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2.5 | 11.6 | 9.7 | 4.7 | (1.4 | ) | 5.8 | ||||||||||||
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Total fixed charges
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69.9 | 252.5 | 244.5 | 225.1 | 146.6 | 110.2 | |||||||||||||
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Earnings before taxes on
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income and fixed charges
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$ | 51.1 | $ | 511.6 | $ | 556.5 | $ | 407.3 | $ | 331.7 | $ | 278.5 | |||||||
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Ratio of earnings to fixed charges
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(b)
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2.03 | 2.28 | 1.81 | 2.26 | 2.53 | |||||||||||||
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(a)
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On January 1, 2007, Great Plains Energy elected to make an accounting policy change to recognize interest related to uncertain
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| tax positions in interest expense. | |||||||||||||||||||
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(b)
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An $18.8 million deficiency in earnings caused the ratio of earnings to fixed charges to be less than a one-to-one coverage.
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