Empire District Electric (EDE) 10-K 2002 FY Annual report

EXHIBIT (12)

Computation of Ratios of Earnings to Fixed Charges

	Year ended December 31,
	2002		2001		2000		1999		1998
Income before provision for income taxes And fixed charges (Note A)	$	70,138,328	$	43,475,564	$	63,197,851	$	59,759,998	$	63,261,581
Fixed charges:
Interest on first mortgage bonds	$	15,974,479	$	17,397,010	$	17,414,513	$	17,599,720	$	17,012,160
Amortization of debt discount and
Expense less premium	989,198		1,087,564		1,042,217		873,863		861,673
Interest on short-term debt	713,189		2,229,216		1,247,690		1,673,077		659,741
Interest on notes payable	7,994,285		7,899,736		7,899,171		929,150		1,500
Interest on trust preferred distributions by
sub. holding solely parent debentures	4,250,000		3,541,667		0		0		0
Other interest	1,220,764		896,567		437,621		363,632		345,590
Rental expense representative of an Interest factor (Note B)	19,832		20,890		39,485		150,417		157,579
Total fixed charges	$	31,161,747	$	33,072,650	$	28,080,697	$	21,589,859	$	19,038,243
Ratio of income before provision for Income taxes to net income	1.527		1.000		1.487		1.722		1.561
Ratio of earnings to fixed charges	2.25		1.31		2.25		2.77		3.32

NOTE A:  For the purpose of determining earnings in the calculation of the ratio, net income has been increased by the provision for income taxes, non-operating income taxes and by the sum of fixed charges as shown above.

NOTE B:  One-third of rental expense (which approximates the interest factor).