Exhibit 12.1 | |||||||||||||||||||
GREAT PLAINS ENERGY | |||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
Year to Date | |||||||||||||||||||
June 30 | |||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||
(thousands) | |||||||||||||||||||
Income from continuing operations | $ | 48,960 | $ | 127,630 | $ | 164,197 | $ | 175,271 | $ | 189,230 | $ | 136,194 | |||||||
Add | |||||||||||||||||||
Minority interests in subsidiaries | - | - | 7,805 | (2,131 | ) | (1,263 | ) | - | |||||||||||
Equity investment loss | 729 | 1,932 | 434 | 1,531 | 2,018 | 1,173 | |||||||||||||
Income subtotal | 49,689 | 129,562 | 172,436 | 174,671 | 189,985 | 137,367 | |||||||||||||
Add | |||||||||||||||||||
Taxes on income | 22,628 | 47,822 | 39,462 | 55,391 | 78,263 | 51,023 | |||||||||||||
Kansas City earnings tax | 161 | 544 | 498 | 602 | 418 | 635 | |||||||||||||
Total taxes on income | 22,789 | 48,366 | 39,960 | 55,993 | 78,681 | 51,658 | |||||||||||||
Interest on value of leased property | 1,811 | 4,144 | 6,229 | 6,222 | 5,944 | 7,093 | |||||||||||||
Interest on long-term debt | 26,191 | 62,643 | 64,349 | 66,128 | 58,847 | 65,837 | |||||||||||||
Interest on short-term debt | 13,576 | 9,057 | 5,145 | 4,837 | 5,442 | 6,312 | |||||||||||||
Mandatorily Redeemable Preferred | |||||||||||||||||||
Securities | - | - | - | - | 9,338 | 12,450 | |||||||||||||
Other interest expense and amortization (a) | 6,224 | 5,207 | 5,891 | 13,563 | 3,912 | 3,760 | |||||||||||||
Total fixed charges | 47,802 | 81,051 | 81,614 | 90,750 | 83,483 | 95,452 | |||||||||||||
Earnings before taxes on | |||||||||||||||||||
income and fixed charges | $ | 120,280 | $ | 258,979 | $ | 294,010 | $ | 321,414 | $ | 352,149 | $ | 284,477 | |||||||
Ratio of earnings to fixed charges | 2.52 | 3.20 | 3.60 | 3.54 | 4.22 | 2.98 | |||||||||||||
(a) On January 1, 2007, Great Plains Energy adopted FIN No. 48, "Accounting for Uncertainty in Income Taxes," and along with the adoption, elected to make an accounting policy change to recognize interest related to uncertain tax positions in interest expense. |
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10-Q Filing
Evergy Metro 10-Q2007 Q2 Quarterly report
Filed: 3 Aug 07, 12:00am