EX-12.1 4 y14425exv12w1.txt EX-12.1: STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES . . . 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) $ -