EXHIBIT 12.1
EME Homer City Generation LP
Ratio of Earnings to Fixed Charges (000's)
YEAR ENDED YEAR ENDED SIX MONTHS ENDED SIX MONTHS ENDED
DECEMBER 31, DECEMBER 31, JUNE 30, JUNE 30,
2000 1999 2001 2000
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Earnings:
Income (loss) before income taxes and extraordinary
item $ (3,563) $ 4,290 $ 16,823 $ (13,047)
Adjustments:
Fixed charges, as below 149,149 105,860 75,303 73,790
Interest capitalized (10,282) (1,779) (6,618) (3,899)
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Earnings as adjusted $ 135,304 $ 108,371 $ 85,508 $ 56,844
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Fixed Charges:
Interest on indebtedness (expense and capitalized) $ 148,936 $ 105,593 $ 75,158 $ 73,683
Interest portion on rental expense 213 267 145 107
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$ 149,149 $ 105,860 $ 75,303 $ 73,790
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Ratio of Earnings to Fixed Charges 0.91 1.02 1.14 0.77