Key drivers influencing the Other category results in 2012 included the following:
- An estimated $4.3 million decrease in interest expense from the lower interest rate on the refinanced long-term debt that was underlying the Equity Units;
- The resolution of $2.3 million of general tax related matters in 2011; and
- A benefit of $1.6 million from the release of uncertain tax positions in 2012.
The above factors were offset by the following:
- A $2.2 million tax benefit from a valuation allowance reversal in 2011; and
- A $1.8 million after-tax loss on the sale of real estate during 2012.
For the 2012 fourth quarter, the Other category recorded a loss of $2.1 million or $0.01 per share compared to a loss of $8.3 million or $0.06 per share for the same period in 2011. The results for the Other category in the fourth quarter 2012 were impacted by the decrease in interest expense from the lower interest rate on the refinanced long-term debt that was underlying the Equity Units.
Great Plains Energy will post its 2012 Form 10-K, as well as supplemental financial information related to the fourth quarter and full-year performance on its website, www.greatplainsenergy.com .Earnings Webcast Information: An earnings conference call and webcast is scheduled for 9:00 a.m. EST Friday, March 1, 2013, to review the company’s fourth quarter and full-year 2012 financial results and business outlook. A live audio webcast of the conference call, presentation slides, supplemental financial information, and the earnings press release will be available on the investor relations page of Great Plains Energy’s website at www.greatplainsenergy.com. The webcast will be accessible only in a “listen-only” mode. The conference call may be accessible by dialing (877) 791-9323 (U.S./Canada) or (706) 758-1332 (international) five to ten minutes prior to the scheduled start time. The pass code is 86172329.