EX-12.01 15 a2206232zex-12_01.htm EX-12.01

Exhibit 12.01

 

NRG Energy, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

For the Nine
Months Ended
September30,

 

For the Year Ended December 31,

 

 

 

2011(a)

 

2010

 

2009

 

2008

 

2007

 

2006

 

 

 

(In millions except ratio)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss)/Income from continuing operations before income tax

 

$

(509

)

$

753

 

$

1,669

 

$

1,766

 

$

933

 

$

861

 

Net loss attributable to noncontrolling interest

 

—

 

(1

)

(1

)

—

 

—

 

—

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

Distributions and equity in earnings of unconsolidated affiliates

 

8

 

(19

)

(41

)

(44

)

(33

)

(33

)

Impairment charge on equity method investments

 

495

 

—

 

—

 

—

 

—

 

—

 

Capitalized interest

 

(53

)

(36

)

(37

)

(45

)

(11

)

(5

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

740

 

678

 

703

 

634

 

715

 

603

 

Amortization of capitalized interest

 

5

 

4

 

3

 

1

 

—

 

—

 

Total Earnings:

 

$

686

 

$

1,379

 

$

2,296

 

$

2,312

 

$

1,604

 

$

1,426

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

654

 

$

600

 

$

610

 

$

546

 

$

657

 

$

562

 

Interest capitalized

 

53

 

36

 

37

 

45

 

11

 

5

 

Amortization of debt issuance costs

 

20

 

25

 

31

 

22

 

26

 

22

 

Amortization of debt discount

 

5

 

7

 

13

 

15

 

19

 

10

 

Approximation of interest in rental expense

 

8

 

10

 

12

 

6

 

2

 

4

 

Total Fixed Charges:

 

$

740

 

$

678

 

$

703

 

$

634

 

$

715

 

$

603

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges

 

0.93

 

2.03

 

3.27

 

3.65

 

2.24

 

2.36

 

 

(a)          The ratio coverage for the nine months ended September 30, 2011 was less than 1:1.  NRG would have needed to generate additional earnings of $54 million to achieve a ratio coverage of 1:1.