EXHIBIT 12.1
MIRANT AMERICAS GENERATION, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FOR THE FOUR YEARS ENDED DECEMBER 31, 2001
Year Ended December 31
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2001 2000 1999 1998
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(In Millions, except Ratio)
EARNINGS, AS DEFINED:
Income (loss) from continuing operations before income
taxes and minority interest $314 $264 $ 68 $ 11
Add:
Fixed charges less interest capitalized 271 102 67 3
Amortization of capitalized interest 0 0 0 0
Distributed income of equity investees 0 0 0 0
Less:
Equity in income of affiliates, and minority interest
in losses 0 0 0 0
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Total earnings, as defined $585 $366 $135 $ 14
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FIXED CHARGES, AS DEFINED:
Interest expensed, including amortization of debt
premiums, discounts and expenses $194 $ 99 $ 67 $ 3
Interest capitalized 24 10 2 0
Interest element of rentals 77 3 0 0
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Total fixed charges, as defined $295 $112 $ 69 $ 3
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Ratio of earnings to fixed charges 2.0 3.3 2.0 4.7
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