EX-12 4 dex12.htm COMPUTATIONS OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES Computations of Ratio of Consolidated Earnings to Fixed Charges

Exhibit 12

 

Kansas Gas and Electric Company

Computations of Ratio of Earnings to Fixed Charges

(Dollars in Thousands)

 

     Year Ended December 31,

     2004

   2003

   2002

   2001

   2000

Earnings from continuing operations (a)

   $ 115,786    $ 93,630    $ 75,618    $ 35,701    $ 120,683
    

  

  

  

  

Fixed Charges:

                                  

Interest expense

     33,171      55,467      47,844      49,610      49,605

Interest on corporate-owned life insurance borrowings

     45,396      47,245      46,853      44,063      39,444

Interest applicable to rentals

     18,270      19,688      20,766      22,822      23,039
    

  

  

  

  

Total Fixed Charges

     96,837      122,400      115,463      116,495      112,088
    

  

  

  

  

Earnings (a)

   $ 212,623    $ 216,030    $ 191,081    $ 152,196    $ 232,771
    

  

  

  

  

Ratio of Earnings to Fixed Charges

     2.20      1.76      1.65      1.31      2.08

(a) Earnings are deemed to consist of earnings from continuing operations and fixed charges. Fixed charges consist of all interest on indebtedness, amortization of debt discount and expense, and the portion of rental expense that represents an interest factor.