EXHIBIT 12.1
NRG Energy, Inc.
Computation Ratio of Earnings to Fixed Charges
Computation Ratio of Earnings to Fixed Charges
For the Period | For the Period | For the Nine | For the Nine | |||||||||||||||||||||||||||||
For the Year | For the Year | January 1, | December 6, | For the Year | For the Year | Months | Months | |||||||||||||||||||||||||
Ended | Ended | 2003 Through | 2003 Through | Ended | Ended | Ended | Ended | |||||||||||||||||||||||||
December 31, | December 31, | December 5, | December 31, | December 31, | December 31, | September 30, | September 30, | |||||||||||||||||||||||||
(In millions except for ratios) | 2001 | 2002 | 2003 | 2003 | 2004 | 2005 | 2005 | 2006 | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
Income/(loss) before taxes from continuing operations before income tax | $ | 251 | $ | (2,955 | ) | $ | 3,120 | $ | 10 | $ | 226 | $ | 120 | $ | 20 | $ | 912 | |||||||||||||||
Minority interest in earnings | — | — | — | |||||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Undistributed equity in (earnings)/losses of unconsolidated affiliates | (119 | ) | (22 | ) | (41 | ) | 2 | (1 | ) | (8 | ) | 1 | (27 | ) | ||||||||||||||||||
Capitalized interest | (27 | ) | (46 | ) | — | — | — | — | — | (4 | ) | |||||||||||||||||||||
Add: | ||||||||||||||||||||||||||||||||
Fixed charges | 394 | 502 | 312 | 19 | 270 | 200 | 143 | 427 | ||||||||||||||||||||||||
Total Earnings/(Losses): | $ | 499 | $ | (2,521 | ) | $ | 3,391 | $ | 31 | $ | 495 | $ | 312 | $ | 164 | $ | 1,308 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
Interest expense | $ | 353 | $ | 424 | $ | 290 | $ | 16 | $ | 239 | $ | 186 | $ | 133 | $ | 400 | ||||||||||||||||
Interest capitalized | 27 | 46 | — | — | — | — | — | 4 | ||||||||||||||||||||||||
Amortization of debt issuance costs | 11 | 28 | 18 | 1 | 9 | 6 | 4 | 15 | ||||||||||||||||||||||||
Amortization of debt discount | — | — | — | 2 | 18 | 5 | 4 | 5 | ||||||||||||||||||||||||
Approximation of interest in rental expense | 3 | 4 | 4 | 0 | 4 | 3 | 2 | 3 | ||||||||||||||||||||||||
Total Fixed Charges: | $ | 394 | $ | 502 | $ | 312 | $ | 19 | $ | 270 | $ | 200 | $ | 143 | $ | 427 | ||||||||||||||||
Ratio of Earnings/(Losses) to combined Fixed Charges | 1.27 | — | (1) | 10.87 | 1.62 | 1.83 | 1.56 | 1.15 | 3.06 | |||||||||||||||||||||||
(1) | Earnings did not cover fixed charges. |
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