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Constraining | ||
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Filing tables
Filing exhibits
- 10-K Annual report
- 2.9 Exhibit 2.9
- 2.10 Exhibit 2.10
- 10.6 Exhibit 10.6
- 10.7 Exhibit 10.7
- 10.40 Exhibit 10.40
- 10.73 Exhibit 10.73
- 10.74 Exhibit 10.74
- 12.1 Exhibit 12.1
- 12.2 Exhibit 12.2
- 21.1 Exhibit 21.1
- 23 Exhibit 23
- 31.1 Exhibit 31.1
- 31.2 Exhibit 31.2
- 31.3 Exhibit 31.3
- 32 Exhibit 32
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EXHIBIT 12.2
NRG ENERGY, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS
For the Year Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013(a) | |||||||||||||||
(in millions except ratio) | |||||||||||||||||||
Earnings: | |||||||||||||||||||
(Loss)/income from continuing operations before income tax | $ | (1,540 | ) | $ | (978 | ) | $ | (4,986 | ) | $ | (74 | ) | $ | (585 | ) | ||||
Less: | |||||||||||||||||||
Distributions and equity in earnings of unconsolidated affiliates | 55 | 54 | 37 | 49 | 84 | ||||||||||||||
Impairment charge on equity method investment | 74 | 268 | 56 | — | 99 | ||||||||||||||
Capitalized interest | (34 | ) | (30 | ) | (25 | ) | (18 | ) | (116 | ) | |||||||||
Preference dividends - tax effected | — | (8 | ) | (32 | ) | (90 | ) | (14 | ) | ||||||||||
Add: | |||||||||||||||||||
Fixed charges | 939 | 950 | 1,010 | 1,054 | 801 | ||||||||||||||
Amortization of capitalized interest | 22 | 21 | 20 | 19 | 16 | ||||||||||||||
Total Earnings: | $ | (484 | ) | $ | 277 | $ | (3,920 | ) | $ | 940 | $ | 285 | |||||||
Fixed Charges: | |||||||||||||||||||
Interest expense | $ | 831 | $ | 839 | $ | 891 | $ | 889 | $ | 622 | |||||||||
Interest capitalized | 34 | 30 | 25 | 18 | 116 | ||||||||||||||
Amortization of debt issuance costs | 41 | 38 | 37 | 35 | 33 | ||||||||||||||
Amortization of debt (premium)/discount | 19 | 19 | 10 | 8 | 4 | ||||||||||||||
Approximation of interest in rental expense | 14 | 16 | 15 | 14 | 12 | ||||||||||||||
Preference dividends - tax effected | — | 8 | 32 | 90 | 14 | ||||||||||||||
Total Fixed Charges: | $ | 939 | $ | 950 | $ | 1,010 | $ | 1,054 | $ | 801 | |||||||||
Ratio of Earnings to Combined Fixed Charges and Preference Dividends | (0.52 | ) | 0.29 | (3.88 | ) | 0.89 | 0.36 |
(a) | The ratio coverage for the years ended December 31, 2017, 2016, 2015, 2014, and 2013 was less than 1:1. NRG would have needed to generate additional earnings of $1,416 million, $673 million, $4,930 million, $114 million, and $516 million, respectively, to achieve a ratio coverage of 1:1 for those years. |