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Content analysis
?Positive | ||
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Uncertain | ||
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Litigous | ||
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7th grade Good
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EXHIBIT 12.1
RELIANT ENERGY, INC. AND SUBSIDIARIES
RATIO OF EARNINGS FROM CONTINUING OPERATIONS TO FIXED CHARGES
(Unaudited)
|
| 2006(1) |
| 2005(2) |
| 2004(3) |
| 2003(4) |
| 2002 |
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| (in thousands, except ratio amounts) |
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Fixed charges: |
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Interest expense |
| $ | 427,867 |
| $ | 399,281 |
| $ | 417,514 |
| $ | 406,809 |
| $ | 206,582 |
|
Capitalized interest |
| — |
| 441 |
| 45,784 |
| 84,225 |
| 22,038 |
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Interest within rent expense |
| 57,037 |
| 56,458 |
| 61,539 |
| 58,955 |
| 54,340 |
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Total fixed charges |
| $ | 484,904 |
| $ | 456,180 |
| $ | 524,837 |
| $ | 549,989 |
| $ | 282,960 |
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Earnings from continuing operations: |
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Income (loss) from continuing operations before income taxes |
| $ | (448,621 | ) | $ | (693,827 | ) | $ | (391,674 | ) | $ | (840,729 | ) | $ | 83,855 |
|
(Income) loss of equity investments of unconsolidated subsidiaries |
| (5,791 | ) | (25,458 | ) | 9,478 |
| 1,652 |
| (17,836 | ) | |||||
Subtotal |
| (454,412 | ) | (719,285 | ) | (382,196 | ) | (839,077 | ) | 66,019 |
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Plus — |
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Fixed charges from above |
| 484,904 |
| 456,180 |
| 524,837 |
| 549,989 |
| 282,960 |
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Amortization of capitalized interest |
| 8,469 |
| 8,462 |
| 7,692 |
| 5,525 |
| 3,754 |
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Distributed income of equity investees |
| 10,000 |
| 5,500 |
| 3,850 |
| 4,400 |
| 2,975 |
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Less — |
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Capitalized interest |
| — |
| (441 | ) | (45,784 | ) | (84,225 | ) | (22,038 | ) | |||||
|
| $ | 48,961 |
| $ | (249,584 | ) | $ | 108,399 |
| $ | (363,388 | ) | $ | 333,670 |
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Ratio of earnings from continuing operations to fixed charges |
| — |
| — |
| — |
| — |
| 1.18 |
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(1) For 2006, our earnings were insufficient to cover our fixed charges by $436 million.
(2) For 2005, our earnings were insufficient to cover our fixed charges by $706 million.
(3) For 2004, our earnings were insufficient to cover our fixed charges by $416 million.
(4) For 2003, our earnings were insufficient to cover our fixed charges by $913 million.