Exhibit 12.1
NRG ENERGY, INC.
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE DIVIDENDS
(in thousands except for ratio)
For the Period
For the Year For the Year For the Year January 1,
Ended Ended Ended 2003 Through
December 31, December 31, December 31, December 5,
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2000 2001 2002 2003
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EARNINGS:
Income/(loss) before taxes $ 251,034 $ 250,723 $(2,955,319) $ 2,987,007
Minority interest in earnings 840 - - -
LESS:
Undistributed equity in earnings of
unconsolidated affiliates (43,258) (119,002) (22,252) (41,472)
Capitalized interest (2,667) (27,175) (45,896) (16)
Preference dividends - tax effected - - - -
ADD:
Fixed charges 253,110 394,616 502,474 333,868
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$ 459,059 $ 499,162 $(2,520,993) $ 3,279,387
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FIXED CHARGES:
Interest expense $ 241,999 $ 353,443 $ 423,815 $ 312,249
Interest capitalized 2,667 27,175 45,896 16
Amortization of debt costs 7,678 10,668 28,367 17,640
Amortization of debt discount - - - -
Approximation of interest in rental expense 766 3,330 4,396 3,963
Preference dividends - tax effected - - - -
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$ 253,110 $ 394,616 $ 502,474 $ 333,868
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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE
DIVIDENDS 1.81 1.26 (5.02) 9.82
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Deficiency of earnings to fixed charges - - 3,023,467 -
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For the Period
December 6, For the Year For the Three
2003 Through Ended Months Ended
December 31, December 31, March 31,
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2003 2004 2005
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EARNINGS:
Income/(loss) before taxes $ 10,744 $ 227,257 $ 27,424
Minority interest in earnings 134 1,045 474
LESS:
Undistributed equity in earnings of
unconsolidated affiliates 2,229 (1,062) (31,996)
Capitalized interest (2) (113) -
Preference dividends - tax effected - (915) (7,000)
ADD:
Fixed charges 20,862 292,382 64,857
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$ 33,967 $ 518,594 $ 53,759
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FIXED CHARGES:
Interest expense $ 18,385 $ 259,932 $ 54,578
Interest capitalized 2 113 -
Amortization of debt costs 517 9,432 1,413
Amortization of debt discount 1,725 18,227 931
Approximation of interest in rental expense 233 3,763 935
Preference dividends - tax effected - 915 7,000
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$ 20,862 $ 292,382 $ 64,857
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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE
DIVIDENDS 1.63 1.77 0.83
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Deficiency of earnings to fixed charges - - 11,098
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