Taxes (Tables)

9 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

Components of income tax expense are detailed in the following tables.

	Three Months Ended September 30						Year to Date September 30
Great Plains Energy	2012			2011			2012			2011
Current income taxes	(millions)
Federal	$	(1.4	)	$	(10.2	)	$	(4.7	)	$	(6.4	)
State	(0.3		)	(0.8		)	—			(4.8		)
Foreign	—			—			—			(0.4		)
Total	(1.7		)	(11.0		)	(4.7		)	(11.6		)
Deferred income taxes
Federal	75.1			74.7			97.6			103.6
State	13.9			13.0			18.2			20.4
Total	89.0			87.7			115.8			124.0
Noncurrent income taxes
Federal	—			—			(0.2		)	(18.0		)
State	—			—			—			(1.9		)
Foreign	(4.1		)	(0.6		)	(4.2		)	(0.4		)
Total	(4.1		)	(0.6		)	(4.4		)	(20.3		)
Investment tax credit amortization	(0.6		)	(0.7		)	(1.8		)	(1.5		)
Income tax expense	$	82.6		$	75.4		$	104.9		$	90.6

	Three Months Ended September 30						Year to Date September 30
KCP&L	2012			2011			2012			2011
Current income taxes	(millions)
Federal	$	22.9		$	(10.2	)	$	23.1		$	(7.8	)
State	4.1			(0.9		)	4.2			(0.4		)
Total	27.0			(11.1		)	27.3			(8.2		)
Deferred income taxes
Federal	22.7			53.5			38.8			73.4
State	4.5			9.3			8.6			13.8
Total	27.2			62.8			47.4			87.2
Noncurrent income taxes
Federal	1.0			1.5			1.1			(9.1		)
State	0.2			0.1			0.2			(1.0		)
Total	1.2			1.6			1.3			(10.1		)
Investment tax credit amortization	(0.5		)	(0.5		)	(1.4		)	(1.0		)
Income tax expense	$	54.9		$	52.8		$	74.6		$	67.9

Income tax expense (benefit) and effective income tax rates

Income Tax Expense and Effective Income Tax Rates

Income tax expense and the effective income tax rates reflected in the financial statements and the reasons for their differences from the statutory federal rates are detailed in the following tables.

Great Plains Energy	Income Tax Expense						Income Tax Rate
Three Months Ended September 30	2012			2011			2012		2011
	(millions)
Federal statutory income tax	$	80.0		$	70.6		35.0	%	35.0	%
Differences between book and tax depreciation not
normalized	1.3			1.8			0.5		0.9
Amortization of investment tax credits	(0.6		)	(0.7		)	(0.3	)	(0.3	)
Federal income tax credits	(2.2		)	(2.9		)	(1.0	)	(1.4	)
State income taxes	8.8			8.1			3.8		4.0
Changes in uncertain tax positions, net	(4.1		)	(2.7		)	(1.8	)	(1.3	)
Other	(0.6		)	1.2			(0.1	)	0.4
Total	$	82.6		$	75.4		36.1	%	37.3	%

Great Plains Energy	Income Tax Expense						Income Tax Rate
Year to Date September 30	2012			2011			2012		2011
	(millions)
Federal statutory income tax	$	105.0		$	92.0		35.0	%	35.0	%
Differences between book and tax depreciation not
normalized	3.4			3.7			1.1		1.4
Amortization of investment tax credits	(1.8		)	(1.5		)	(0.6	)	(0.6	)
Federal income tax credits	(8.3		)	(9.7		)	(2.8	)	(3.7	)
State income taxes	11.7			11.1			3.9		4.2
Changes in uncertain tax positions, net	(4.2		)	(4.0		)	(1.4	)	(1.5	)
Valuation allowance	0.1			(2.2		)	—		(0.8	)
Other	(1.0		)	1.2			(0.3	)	0.5
Total	$	104.9		$	90.6		34.9	%	34.5	%

KCP&L	Income Tax Expense						Income Tax Rate
Three Months Ended September 30	2012			2011			2012		2011
	(millions)
Federal statutory income tax	$	50.8		$	48.3		35.0	%	35.0	%
Differences between book and tax depreciation not
normalized	1.0			1.7			0.7		1.2
Amortization of investment tax credits	(0.5		)	(0.5		)	(0.3	)	(0.4	)
Federal income tax credits	(2.2		)	(2.9		)	(1.5	)	(2.1	)
State income taxes	5.8			5.7			3.9		4.1
Other	—			0.5			—		0.4
Total	$	54.9		$	52.8		37.8	%	38.2	%

KCP&L	Income Tax Expense						Income Tax Rate
Year to Date September 30	2012			2011			2012		2011
	(millions)
Federal statutory income tax	$	73.8		$	66.7		35.0	%	35.0	%
Differences between book and tax depreciation not
normalized	2.8			3.3			1.3		1.7
Amortization of investment tax credits	(1.4		)	(1.0		)	(0.6	)	(0.5	)
Federal income tax credits	(8.3		)	(9.6		)	(4.0	)	(5.1	)
State income taxes	8.4			7.7			4.0		4.0
Changes in uncertain tax positions, net	—			0.4			—		0.2
Other	(0.7		)	0.4			(0.3	)	0.3
Total	$	74.6		$	67.9		35.4	%	35.6	%

Summary of Income Tax Contingencies [Table Text Block]

The following table reflects activity for Great Plains Energy and KCP&L related to the liability for unrecognized tax benefits.

		Great Plains Energy								KCP&L
	September 30 2012				December 31 2011				September 30 2012				December 31 2011
		(millions)
Beginning balance January 1		$	24.0			$	42.0			$	8.7			$	19.1
Additions for current year tax positions		2.8				1.4				2.7				—
Additions for prior year tax positions		—				2.4				—				2.3
Reductions for prior year tax positions		(6.1		)		(20.9		)		(1.5		)		(12.6		)
Statute expirations		—				(0.7		)		—				(0.1		)
Foreign currency translation adjustments		0.3				(0.2		)		—				—
Ending balance		$	21.0			$	24.0			$	9.9			$	8.7