EX-12.1 2 gxp-12312016xex121.htm GPE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED Exhibit


Exhibit 12.1

GREAT PLAINS ENERGY INCORPORATED

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED DIVIDEND REQUIREMENTS

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016
2015
 
2014
 
2013
 
2012
 
 
(millions)
Net income
 
$
290.0

 
$
213.0

 
$
242.8

 
$
250.2

 
$
199.9

 
Add
 
 
 
 
 
 
 
 
 
 
 
Equity investment (income) loss
 
(2.0
)
 
(1.2
)
 

 
0.2

 
0.4

 
Income subtotal
 
288.0

 
211.8

 
242.8

 
250.4

 
200.3

 
 
 
 
 
 
 
 
 
 
 
 
 
Add
 
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
172.2

 
122.7

 
115.7

 
129.2

 
104.6

 
Kansas City earnings tax
 
0.2

 
(0.5
)
 
0.3

 
0.1

 
0.1

 
Total taxes on income
 
172.4

 
122.2

 
116.0

 
129.3

 
104.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on value of leased property
 
5.1

 
5.2

 
5.2

 
5.5

 
5.8

 
Interest on long-term debt
 
199.8

 
193.9

 
195.0

 
195.5

 
213.2

 
Interest on short-term debt
 
13.5

 
6.1

 
5.1

 
7.6

 
9.0

 
Other interest expense and amortization
 
36.3

 
6.8

 
3.3

 
8.2

 
4.6

 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
254.7

 
212.0

 
208.6

 
216.8

 
232.6

 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred dividend requirements(b)
 
26.3

 
(a)
 
(a)
 
(a)
 
(a)
 
 
 
 
 
 
 
 
 
 
 
 
 
Combined fixed charges and preferred
 
 
 
 
 
 
 
 
 
 
 
dividend requirements
 
281.0

 
212.0

 
208.6

 
216.8

 
232.6

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings before taxes on
 
 
 
 
 
 
 
 
 
 
 
income and fixed charges
 
$
715.1

 
$
546.0

 
$
567.4

 
$
596.5

 
$
537.6

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
2.81

 
2.58

 
2.72

 
2.75
 
2.31
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges
 
 
 
 
 
 
 
 
 
 
 
and preferred dividend requirements
 
2.54

 
2.58

 
2.72

 
2.75

 
2.31

 
 
 
 
 
 
 
 
 
 
 
 
 
(a) Prior to 2016, Great Plains Energy's preferred dividends were insignificant.
(b) Preferred stock dividend requirements have been grossed up by the effective tax rate for the period.