Exhibit 12.1 | |||||||||||||||||||
GREAT PLAINS ENERGY | |||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
Year to Date | |||||||||||||||||||
September 30 | |||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
(millions) | |||||||||||||||||||
Income from continuing operations | $ | 112.5 | $ | 120.9 | $ | 136.7 | $ | 135.1 | $ | 132.3 | $ | 149.6 | |||||||
Add | |||||||||||||||||||
Minority interests in subsidiaries | - | - | - | 7.8 | (5.1 | ) | (1.3 | ) | |||||||||||
Equity investment loss | 1.1 | 2.0 | 1.9 | 0.4 | 1.5 | 2.0 | |||||||||||||
Income subtotal | 113.6 | 122.9 | 138.6 | 143.3 | 128.7 | 150.3 | |||||||||||||
Add | |||||||||||||||||||
Taxes on income | 68.4 | 44.9 | 60.3 | 22.2 | 30.7 | 48.1 | |||||||||||||
Kansas City earnings tax | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | |||||||||||||
Total taxes on income | 69.0 | 45.4 | 60.8 | 22.7 | 31.2 | 48.5 | |||||||||||||
Interest on value of leased property | 2.5 | 3.9 | 4.1 | 6.2 | 6.2 | 5.9 | |||||||||||||
Interest on long-term debt | 87.1 | 74.1 | 62.6 | 64.3 | 66.1 | 58.8 | |||||||||||||
Interest on short-term debt | 12.4 | 26.4 | 9.2 | 4.5 | 4.3 | 5.0 | |||||||||||||
Mandatorily Redeemable Preferred | |||||||||||||||||||
Securities | - | - | - | - | - | 9.3 | |||||||||||||
Other interest expense and amortization (a) | (3.6 | ) | 5.8 | 3.9 | 4.3 | 13.6 | 3.9 | ||||||||||||
Total fixed charges | 98.4 | 110.2 | 79.8 | 79.3 | 90.2 | 82.9 | |||||||||||||
Earnings before taxes on | |||||||||||||||||||
income and fixed charges | $ | 281.0 | $ | 278.5 | $ | 279.2 | $ | 245.3 | $ | 250.1 | $ | 281.7 | |||||||
Ratio of earnings to fixed charges | 2.86 | 2.53 | 3.50 | 3.09 | 2.77 | 3.40 | |||||||||||||
(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-Q2008 Q3 Quarterly report
Filed: 7 Nov 08, 12:00am