EX-12.1 4 a2235570zex-12_1.htm EX-12.1

EXHIBIT 12.1

 

NRG YIELD, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

For the Three
Months Ended

 

For the Year Ended December 31,

 

 

 

March 31, 2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

 

 

(in millions, except ratio)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) Income from continuing operations before income tax

 

$

(2

)

$

48

 

$

1

 

$

84

 

$

118

 

$

149

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of unconsolidated affiliates

 

(4

)

(71

)

(60

)

(31

)

(22

)

(27

)

Capitalized interest

 

(2

)

(3

)

—

 

—

 

—

 

(26

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

58

 

316

 

289

 

270

 

225

 

100

 

Distributions from unconsolidated affiliates

 

13

 

72

 

58

 

60

 

21

 

15

 

Amortization of capitalized interest

 

1

 

3

 

3

 

3

 

3

 

2

 

Total Earnings:

 

$

64

 

$

365

 

$

291

 

$

386

 

$

345

 

$

213

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

49

 

282

 

264

 

251

 

211

 

68

 

Capitalized interest

 

2

 

3

 

—

 

—

 

—

 

26

 

Amortization of debt issuance costs

 

4

 

16

 

11

 

10

 

7

 

5

 

Amortization of debt discounts

 

2

 

9

 

9

 

6

 

4

 

—

 

Approximation of interest in rental expense

 

1

 

6

 

5

 

3

 

3

 

1

 

Total Fixed Charges:

 

$

58

 

$

316

 

$

289

 

$

270

 

$

225

 

$

100

 

Ratio of Earnings to Combined Fixed Charges

 

1.10

 

1.16

 

1.01

 

1.43

 

1.53

 

2.13