Exhibit 12
KANSAS CITY POWER & LIGHT COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year to date | ||||||||||||||||||||
June 30 | ||||||||||||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |||||||||||||||
(Thousands) | ||||||||||||||||||||
Income from continuing operations | ||||||||||||||||||||
before cumulative effect of changes | ||||||||||||||||||||
in accounting principle | 35,058 | $ | 102,666 | $ | 126,896 | $ | 128,631 | $ | 81,915 | $ | 120,722 | |||||||||
Add: | ||||||||||||||||||||
Equity investment (income) loss | - | - | (24,514 | ) | 19,441 | 24,951 | 11,683 | |||||||||||||
Minority interests in subsidiaries | - | - | (897 | ) | - | 1 | (2,222 | ) | ||||||||||||
Income subtotal | 35,058 | 102,666 | 101,485 | 148,072 | 106,867 | 130,183 | ||||||||||||||
Add: | ||||||||||||||||||||
Taxes on income | 24,044 | 62,857 | 39,389 | 53,166 | 3,180 | 32,800 | ||||||||||||||
Kansas City earnings tax | 276 | 635 | 583 | 421 | 602 | 864 | ||||||||||||||
Total taxes on income | 24,320 | 63,492 | 39,972 | 53,587 | 3,782 | 33,664 | ||||||||||||||
Interest on value of leased | ||||||||||||||||||||
property | 3,717 | 7,093 | 10,679 | 11,806 | 8,577 | 8,482 | ||||||||||||||
Interest on long-term debt | 27,693 | 63,845 | 78,915 | 60,956 | 51,327 | 57,012 | ||||||||||||||
Interest on short-term debt | 225 | 1,218 | 8,883 | 11,537 | 4,362 | 295 | ||||||||||||||
Mandatorily redeemable Preferred | ||||||||||||||||||||
Securities | 6,225 | 12,450 | 12,450 | 12,450 | 12,450 | 12,450 | ||||||||||||||
Other interest expense | ||||||||||||||||||||
and amortization | 2,078 | 3,772 | 5,188 | 2,927 | 3,573 | 4,457 | ||||||||||||||
Total fixed charges | 39,938 | 88,378 | 116,115 | 99,676 | 80,289 | 82,696 | ||||||||||||||
Earnings before taxes on | ||||||||||||||||||||
income and fixed charges | 99,316 | 254,536 | 257,572 | 301,335 | 190,938 | 246,543 | ||||||||||||||
Ratio of earnings to fixed charges | 2.49 | 2.88 | 2.22 | 3.02 | 2.38 | 2.98 | ||||||||||||||