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Exhibit 12.1
NRG ENERGY, INC.
RATIO OF EARNINGS TO FIXED CHARGES
For the Period For the Period For the Nine
For the Year For the Year For the Year January 1, December 6, For the Year Months
Ended Ended Ended 2003 Through 2003 Through Ended Ended
December 31, December 31, December 31, December 5, December 31, December 31, September 30,
------------ ------------ ------------ -------------- -------------- ------------ -------------
2000 2001 2002 2003 2003 2004 2005
------------ ------------ ------------ -------------- -------------- ------------ -------------
EARNINGS:
Income/(loss) before taxes
from continuing operations $ 251,034 $ 250,723 $ (2,955,319) $2,987,007 $ 10,744 $ 224,508 $ 28,192
Minority interest in
earnings 840 134 16 36
LESS:
Undistributed equity in
earnings of
unconsolidated affiliates (43,258) (119,002) (22,252) (41,472) 2,229 (1,062) 1,100
Capitalized interest (2,667) (27,175) (45,896) (16) (2) (113) -
ADD:
Fixed charges 253,110 394,616 502,474 333,868 19,137 269,898 153,048
--------- --------- ------------ ---------- -------- --------- ---------
TOTAL EARNINGS: $ 459,059 $ 499,162 $ (2,520,993) $3,279,387 $ 32,242 $ 493,247 $ 182,376
========= ========= ============ ========== ======== ========= =========
FIXED CHARGES:
Interest expense $ 241,999 $ 353,443 $ 423,815 $ 312,249 $ 16,660 $ 238,486 $ 142,947
Interest capitalized 2,667 27,175 45,896 16 2 113 -
Amortization of debt
issuance costs 7,678 10,668 28,367 17,640 517 9,432 4,286
Amortization of debt
discount/(premiums) - - - - 1,725 18,227 3,365
Approximation of interest
in rental expense 766 3,330 4,396 3,963 233 3,640 2,450
--------- --------- ------------ ---------- -------- --------- ---------
TOTAL FIXED CHARGES: $ 253,110 $ 394,616 $ 502,474 $ 333,868 $ 19,137 $ 269,898 $ 153,048
========= ========= ============ ========== ======== ========= =========
RATIO OF EARNINGS TO
FIXED CHARGES 1.81 1.26 (5.02) 9.82 1.68 1.83 1.19
========= ========= ============ ========== ======== ========= =========
(EARNINGS DID NOT COVER
FIXED CHARGES) $ - $ - $ (3,023,467) $ - $ - $ - $ -
Exhibit 12.1
NRG ENERGY, INC.
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
For the Year For the Year For the Year
Ended Ended Ended
December 31, December 31, December 31,
------------ ------------ ------------
2000 2001 2002
------------ ------------ ------------
EARNINGS:
Income/(loss) before taxes from continuing operations $ 251,034 $ 250,723 $ (2,955,319)
Minority interest in earnings 840
LESS:
Undistributed equity in earnings of unconsolidated affiliates (43,258) (119,002) (22,252)
Capitalized interest (2,667) (27,175) (45,896)
Preference dividends - tax effected - - -
ADD:
Fixed charges 253,110 394,616 502,474
--------- --------- ------------
TOTAL EARNINGS: $ 459,059 $ 499,162 $ (2,520,993)
========= ========= ============
FIXED CHARGES:
Interest expense $ 241,999 $ 353,443 $ 423,815
Interest capitalized 2,667 27,175 45,896
Amortization of debt issuance costs 7,678 10,668 28,367
Amortization of debt discount/(premiums) - - -
Approximation of interest in rental expense 766 3,330 4,396
Tax effected preference dividends - - -
--------- --------- ------------
TOTAL FIXED CHARGES: $ 253,110 $ 394,616 $ 502,474
========= ========= ============
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE
DIVIDENDS 1.81 1.26 (5.02)
========= ========= ============
(EARNINGS DID NOT COVER FIXED CHARGES) $ - $ - $ (3,023,467)
For the Period For the Period
January 1, December 6, For the Year
2003 Through 2003 Through Ended
December 5, December 31, December 31,
-------------- -------------- ------------
2003 2003 2004
-------------- -------------- ------------
EARNINGS:
Income/(loss) before taxes from continuing operations $ 2,987,007 $ 10,744 $ 224,508
Minority interest in earnings 134 16
LESS:
Undistributed equity in earnings of unconsolidated affiliates (41,472) 2,229 (1,062)
Capitalized interest (16) (2) (113)
Preference dividends - tax effected - - (915)
ADD:
Fixed charges 333,868 19,137 270,813
----------- -------- ---------
TOTAL EARNINGS: $ 3,279,387 $ 32,242 $ 493,247
=========== ======== =========
FIXED CHARGES:
Interest expense $ 312,249 $ 16,660 $ 238,486
Interest capitalized 16 2 113
Amortization of debt issuance costs 17,640 517 9,432
Amortization of debt discount/(premiums) - 1,725 18,227
Approximation of interest in rental expense 3,963 233 3,640
Tax effected preference dividends - - 915
----------- -------- ---------
TOTAL FIXED CHARGES: $ 333,868 $ 19,137 $ 270,813
=========== ======== =========
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE
DIVIDENDS 9.82 1.68 1.82
=========== ======== =========
(EARNINGS DID NOT COVER FIXED CHARGES) $ - $ - $ -
For the Nine
Months
Ended
September 30,
-------------
2005
-------------
EARNINGS:
Income/(loss) before taxes from continuing operations $ 28,192
Minority interest in earnings 36
LESS:
Undistributed equity in earnings of unconsolidated affiliates 1,100
Capitalized interest -
Preference dividends - tax effected (23,098)
ADD:
Fixed charges 176,146
---------
TOTAL EARNINGS: $ 182,376
=========
FIXED CHARGES:
Interest expense $ 142,947
Interest capitalized -
Amortization of debt issuance costs 4,286
Amortization of debt discount/(premiums) 3,365
Approximation of interest in rental expense 2,450
Tax effected preference dividends 23,098
---------
TOTAL FIXED CHARGES: $ 176,146
=========
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE
DIVIDENDS 1.04
=========
(EARNINGS DID NOT COVER FIXED CHARGES) $ -