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- S-4 Registration of securities issued in business combination transactions
- 3.03 EX-3.03
- 3.04 EX-3.04
- 3.11 EX-3.11
- 3.12 EX-3.12
- 3.13 EX-3.13
- 3.14 EX-3.14
- 3.21 EX-3.21
- 3.22 EX-3.22
- 3.23 EX-3.23
- 3.24 EX-3.24
- 3.57 EX-3.57
- 3.58 EX-3.58
- 3.71 EX-3.71
- 3.72 EX-3.72
- 3.73 EX-3.73
- 3.74 EX-3.74
- 3.121 EX-3.121
- 3.122 EX-3.122
- 3.133 EX-3.133
- 3.134 EX-3.134
- 3.149 EX-3.149
- 3.150 EX-3.150
- 3.199 EX-3.199
- 3.200 EX-3.200
- 3.209 EX-3.209
- 3.210 EX-3.210
- 3.248 EX-3.248
- 5.01 EX-5.01
- 5.02 EX-5.02
- 5.03 EX-5.03
- 5.04 EX-5.04
- 5.05 EX-5.05
- 12.01 EX-12.01
- 21.01 EX-21.01
- 23.06 EX-23.06
- 25.01 EX-25.01
- 99.01 EX-99.01
- 99.02 EX-99.02
- 99.03 EX-99.03
- 99.04 EX-99.04
- 1 Mar 17 Registration of securities issued in business combination transactions
- 14 Dec 16 Registration of securities issued in business combination transactions
- 11 Dec 14 Registration of securities issued in business combination transactions
- 10 Sep 14 Registration of securities issued in business combination transactions
- 8 May 13 Registration of securities issued in business combination transactions (amended)
- 22 Mar 13 Registration of securities issued in business combination transactions
- 13 Jan 12 Registration of securities issued in business combination transactions (amended)
Exhibit 12.01
NRG ENERGY, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| For the Six Months |
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| ||||||||||||||||
|
| Ended June 30, |
| For the Year Ended December 31, |
| ||||||||||||||||
|
| 2014(a) |
| 2013(a) |
| 2012(a) |
| 2011(a) |
| 2010 |
| 2009 |
| ||||||||
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|
| (in millions except ratio) |
| ||||||||||||||||
Earnings: |
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|
| ||||||||
Income/(loss) from continuing operations before income tax |
| $ | (304 | ) |
| $ | (634 | ) | $ | (12 | ) | $ | (646 | ) | $ | 753 |
| $ | 1,669 |
| |
Less: |
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|
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|
|
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|
|
|
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|
|
| |||||||
Distributions and equity in earnings of unconsolidated affiliates |
| 39 |
|
| 84 |
| 2 |
| 9 |
| (19 | ) | (41 | ) | |||||||
Impairment charge on equity method investment |
| — |
|
| (99 | ) | 2 |
| 495 |
| — |
| — |
| |||||||
Capitalized interest |
| (13 | ) |
| (130 | ) | (140 | ) | (80 | ) | (36 | ) | (37 | ) | |||||||
Add: |
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|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed charges |
| 630 |
|
| 1,037 |
| 864 |
| 931 |
| 678 |
| 703 |
| |||||||
Amortization of capitalized interest |
| 10 |
|
| 14 |
| 11 |
| 7 |
| 4 |
| 3 |
| |||||||
Total Earnings: |
| $ | 362 |
|
| $ | 272 |
| $ | 727 |
| $ | 716 |
| $ | 1,380 |
| $ | 2,297 |
| |
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Fixed Charges: |
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|
|
|
|
|
|
|
|
|
| |||||||
Interest expense |
| $ | 617 |
|
| $ | 932 |
| $ | 671 |
| $ | 808 |
| $ | 600 |
| $ | 610 |
| |
Interest capitalized |
| 13 |
|
| 130 |
| 140 |
| 80 |
| 36 |
| 37 |
| |||||||
Amortization of debt issuance costs |
| 18 |
|
| 33 |
| 32 |
| 26 |
| 25 |
| 31 |
| |||||||
Amortization of debt discount |
| (25 | ) |
| (67 | ) | 9 |
| 6 |
| 7 |
| 13 |
| |||||||
Approximation of interest in rental expense |
| 7 |
|
| 9 |
| 12 |
| 11 |
| 10 |
| 12 |
| |||||||
Total Fixed Charges: |
| $ | 630 |
|
| $ | 1,037 |
| $ | 864 |
| $ | 931 |
| $ | 678 |
| $ | 703 |
| |
Ratio of Earnings to Combined Fixed Charges |
| 0.57 |
|
| 0.26 |
| 0.84 |
| 0.77 |
| 2.03 |
| 3.27 |
| |||||||
(a) The ratio coverage for the six months ended June 30, 2014 and the years ended December 31, 2013, 2012 and 2011 was less than 1:1. NRG Energy, Inc. would have needed to generate additional earnings of $268 million, $765 million, $137 million and $215 million, respectively, to achieve a ratio coverage of 1:1 for those years.