EX-12.2 3 gxp-9302012xex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES-KCP&L GXP-9/30/2012-EX12.2


Exhibit 12.2

KANSAS CITY POWER & LIGHT COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Year to Date
 
 
 
 
 
 
 
September 30
 
 
 
 
 
 
 
2012
 
2011
2010
2009
2008
2007
 
(millions)
Income from continuing operations
$
136.2

 
135.5

163.2

128.9

125.2

156.7

 
 
 
 
 
 
 
 
Add
 
 
 
 
 
 
 
Income tax expense
74.6

 
69.1

81.6

46.9

59.8

59.3

Kansas City earnings tax
0.2

 
—

0.1

0.2

0.5

0.5

Total taxes on income
74.8

 
69.1

81.7

47.1

60.3

59.8

 
 
 
 
 
 
 
 
Interest on value of leased property
4.0

 
5.4

5.7

6.0

3.3

3.9

Interest on long-term debt
92.6

 
118.5

117.9

110.4

79.3

54.5

Interest on short-term debt
3.4

 
5.1

3.9

5.3

15.2

20.3

Other interest expense and amortization (a)
2.6

 
5.8

4.2

0.3

1.4

6.8

 
 
 
 
 
 
 
 
Total fixed charges
102.6

 
134.8

131.7

122.0

99.2

85.5

 
 
 
 
 
 
 
 
Earnings before taxes on
 
 
 
 
 
 
 
income and fixed charges
$
313.6

 
$
339.4

$
376.6

$
298.0

$
284.7

$
302.0

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.06

 
2.52
2.86
2.44
2.87
3.53

(a)
On January 1, 2007, Kansas City Power & Light Company elected to make an accounting policy change to recognize interest related to uncertain tax positions in interest expense.