EX-12.1 2 gxp-9302012xex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES-GPE GXP-9/30/2012-EX12.1


Exhibit 12.1

GREAT PLAINS ENERGY INCORPORATED

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Year to Date
 
 
 
 
 
 
 
September 30
 
 
 
 
 
 
 
2012
 
2011
2010
2009
2008
2007
 
(millions)
Income from continuing operations
$
195.2

 
174.2

211.9

151.9

119.7

120.9

Add
 
 
 
 
 
 
 
Equity investment loss
0.2

 
0.1

1.0

0.4

1.3

2.0

Income subtotal
195.4

 
174.3

212.9

152.3

121.0

122.9

 
 
 
 
 
 
 
 
Add
 
 
 
 
 
 
 
Income tax expense (benefit)
104.9

 
84.8

99.0

29.5

63.8

44.9

Kansas City earnings tax
0.2

 
—

0.1

0.4

0.3

0.5

Total taxes on income
105.1

 
84.8

99.1

29.9

64.1

45.4

 
 
 
 
 
 
 
 
Interest on value of leased property
4.4

 
5.9

6.2

6.5

3.6

3.9

Interest on long-term debt
165.7

 
223.2

218.9

203.6

126.2

74.1

Interest on short-term debt
6.8

 
11.8

9.7

10.3

18.2

26.4

Other interest expense and amortization (a)
2.6

 
11.6

9.7

4.7

(1.4
)
5.8

 
 
 
 
 
 
 
 
Total fixed charges
179.5

 
252.5

244.5

225.1

146.6

110.2

 
 
 
 
 
 
 
 
Earnings before taxes on
 
 
 
 
 
 
 
income and fixed charges
$
480.0

 
$
511.6

$
556.5

$
407.3

$
331.7

$
278.5

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.67

 
2.03
2.28
1.81
2.26
2.53

(a)
On January 1, 2007, Great Plains Energy elected to make an accounting policy change to recognize interest related to uncertain tax positions in interest expense.