Exhibit 12.2 | |||||||||||||||||||
KANSAS CITY POWER & LIGHT COMPANY | |||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
Year to Date | |||||||||||||||||||
September 30 | |||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
(millions) | |||||||||||||||||||
Income from continuing operations | $ | 108.8 | $ | 156.7 | $ | 149.3 | $ | 143.7 | $ | 145.0 | $ | 125.4 | |||||||
Add | |||||||||||||||||||
Minority interests in subsidiaries | - | - | - | 7.8 | (5.1 | ) | (1.3 | ) | |||||||||||
Income subtotal | 108.8 | 156.7 | 149.3 | 151.5 | 139.9 | 124.1 | |||||||||||||
Add | |||||||||||||||||||
Taxes on income | 60.7 | 59.3 | 70.3 | 48.0 | 53.8 | 83.3 | |||||||||||||
Kansas City earnings tax | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | |||||||||||||
Total taxes on income | 61.3 | 59.8 | 70.8 | 48.5 | 54.3 | 83.7 | |||||||||||||
Interest on value of leased property | 2.4 | 3.9 | 4.1 | 6.2 | 6.2 | 5.9 | |||||||||||||
Interest on long-term debt | 58.3 | 54.5 | 55.4 | 56.7 | 61.2 | 57.7 | |||||||||||||
Interest on short-term debt | 10.3 | 20.3 | 8.0 | 3.1 | 0.5 | 0.6 | |||||||||||||
Mandatorily Redeemable Preferred | |||||||||||||||||||
Securities | - | - | - | - | - | 9.3 | |||||||||||||
Other interest expense and amortization (a) | 0.6 | 6.8 | 3.2 | 3.6 | 14.0 | 4.1 | |||||||||||||
Total fixed charges | 71.6 | 85.5 | 70.7 | 69.6 | 81.9 | 77.6 | |||||||||||||
Earnings before taxes on | |||||||||||||||||||
income and fixed charges | $ | 241.7 | $ | 302.0 | $ | 290.8 | $ | 269.6 | $ | 276.1 | $ | 285.4 | |||||||
Ratio of earnings to fixed charges | 3.38 | 3.53 | 4.11 | 3.87 | 3.37 | 3.68 | |||||||||||||
(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