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- S-4 Registration of securities issued in business combination transactions
- 3.05 EX-3.05
- 3.06 EX-3.06
- 3.57 EX-3.57
- 3.58 EX-3.58
- 3.59 EX-3.59
- 3.62 EX-3.62
- 3.68 EX-3.68
- 3.95 EX-3.95
- 3.96 EX-3.96
- 3.108 EX-3.108
- 3.115 EX-3.115
- 3.116 EX-3.116
- 3.126 EX-3.126
- 3.127 EX-3.127
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- 3.134 EX-3.134
- 3.143 EX-3.143
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- 3.196 EX-3.196
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- 3.252 EX-3.252
- 3.264 EX-3.264
- 3.303 EX-3.303
- 3.304 EX-3.304
- 3.310 EX-3.310
- 3.312 EX-3.312
- 5.01 EX-5.01
- 5.02 EX-5.02
- 5.03 EX-5.03
- 5.04 EX-5.04
- 12.01 EX-12.01
- 21.01 EX-21.01
- 23.05 EX-23.05
- 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
- 24 Sep 18 Registration of securities issued in business combination transactions
- 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)
Exhibit 12.01
NRG ENERGY, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| For the Nine Months |
| For the Year Ended December 31, |
| ||||||||||||||
|
| 2016 |
| 2015 |
| 2014 |
| 2013(a) |
| 2012(a) |
| 2011(a) |
| ||||||
|
| (in millions except ratio) |
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Earnings: |
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|
|
|
|
|
|
|
| ||||||
Income/(loss) from continuing operations before income tax |
| $ | 259 |
| $ | (5,094 | ) | $ | 135 |
| $ | (634 | ) | $ | (12 | ) | $ | (646 | ) |
Less: |
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|
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|
|
|
|
|
|
|
|
| ||||||
Distributions and equity in earnings of unconsolidated affiliates |
| 44 |
| 37 |
| 49 |
| 84 |
| 2 |
| 9 |
| ||||||
Impairment charge on equity method investment |
| 147 |
| 56 |
| — |
| 99 |
| 2 |
| 495 |
| ||||||
Capitalized interest |
| (32 | ) | (30 | ) | (29 | ) | (130 | ) | (140 | ) | (80 | ) | ||||||
Add: |
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|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fixed charges |
| 886 |
| 1,173 |
| 1,255 |
| 1,037 |
| 864 |
| 931 |
| ||||||
Amortization of capitalized interest |
| 17 |
| 21 |
| 20 |
| 14 |
| 11 |
| 7 |
| ||||||
Total Earnings: |
| $ | 1,321 |
| $ | (3,837 | ) | $ | 1,430 |
| $ | 470 |
| $ | 727 |
| $ | 716 |
|
|
|
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| ||||||
Fixed Charges: |
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|
|
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| ||||||
Interest expense |
| $ | 838 |
| $ | 1,139 |
| $ | 1,228 |
| $ | 932 |
| $ | 671 |
| $ | 808 |
|
Interest capitalized |
| 32 |
| 30 |
| 29 |
| 130 |
| 140 |
| 80 |
| ||||||
Amortization of debt issuance costs |
| 29 |
| 37 |
| 35 |
| 33 |
| 32 |
| 26 |
| ||||||
Amortization of debt discount |
| (26 | ) | (48 | ) | (50 | ) | (67 | ) | 9 |
| 6 |
| ||||||
Approximation of interest in rental expense |
| 13 |
| 15 |
| 13 |
| 9 |
| 12 |
| 11 |
| ||||||
Total Fixed Charges: |
| $ | 886 |
| $ | (1,173 | ) | $ | 1,255 |
| $ | 1,037 |
| $ | 864 |
| $ | 931 |
|
Ratio of Earnings to Combined Fixed Charges |
| 1.49 |
| (3.27 | ) | 1.14 |
| 0.45 |
| 0.84 |
| 0.77 |
|
(a) The ratio coverage for the years ended December 31, 2015, 2013, 2012 and 2011 was less than 1:1. NRG Energy, Inc. would have needed to generate additional earnings of $5,010 million, $567 million, $137 million and $215 million, respectively, to achieve a ratio coverage of 1:1 for those periods.