EX-12.1 3 dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

EXHIBIT 12.1

PSEG POWER LLC

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

     For the Six Months
Ended June 30,		     For the Years Ended December 31,  
         2010             2009             2009         2008     2007     2006     2005      
                 (Millions, except ratios)  

Earnings as Defined in Regulation S-K (A):

               

Pre-tax Income from Continuing Operations

    $ 960      $ 924      $ 1,958      $ 1,814      $ 1,676      $ 1,008      $ 803   

Fixed Charges

      114        107        212        226        209        207        213   

Capitalized Interest

      (30 )      (18 )      (43 )      (32 )      (23 )      (30 )      (89 ) 
                                                        

Total Earnings

    $ 1,044      $ 1,013      $ 2,127      $ 2,008      $ 1,862      $ 1,185      $ 927   
                                                        

Fixed Charges as Defined in Regulation S-K (B)

               

Interest Expense

    $ 112      $ 106      $ 210      $ 224      $ 208      $ 206      $ 211   

Interest Factor in Rentals

      2        1        2        2        1        1        2   
                                                        

Total Fixed Charges

    $ 114      $ 107      $ 212      $ 226      $ 209      $ 207      $ 213   
                                                        

Ratio of Earnings to Fixed Charges

      9.16        9.47        10.03        8.88        8.91        5.72        4.35   

 

(A) The term “earnings” shall be defined as pre-tax Income from Continuing Operations. Add to pre-tax income the amount of fixed charges adjusted to exclude the amount of any interest capitalized during the period.
(B) Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense and (c) an estimate of interest implicit in rentals.