Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HARVEST NATURAL RESOURCES, INC. | h69639e8vk.htm |
| EX-10.1 - EX-10.1 - HARVEST NATURAL RESOURCES, INC. | h69639exv10w1.htm |
| EX-10.2 - EX-10.2 - HARVEST NATURAL RESOURCES, INC. | h69639exv10w2.htm |
| EX-99.1 - EX-99.1 - HARVEST NATURAL RESOURCES, INC. | h69639exv99w1.htm |
| EX-10.3 - EX-10.3 - HARVEST NATURAL RESOURCES, INC. | h69639exv10w3.htm |
Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIO
OF EARNINGS TO FIXED CHARGES
OF EARNINGS TO FIXED CHARGES
| (all numbers in thousands) | ||||||||||||||||||||||||||||
| Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||
| 2009 | 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
Income (Loss) from
Consolidated Companies
before income tax |
$ | (24,477 | ) | $ | (23,336 | ) | $ | (49,087 | ) | $ | 30,914 | $ | (13,297 | ) | $ | 108,140 | $ | 61,333 | ||||||||||
Increases: |
||||||||||||||||||||||||||||
Distributed Equity Income of
Equity Investees |
20,750 | 72,530 | 72,530 | |||||||||||||||||||||||||
Fixed Charges |
294 | 1,920 | 1,972 | 8,454 | 23,321 | 3,600 | 7,890 | |||||||||||||||||||||
Subtractions: |
||||||||||||||||||||||||||||
Noncontrolling interest in
pre-tax income of
subsidiaries that have not
incurred fixed charges |
(6 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Total Earnings For Ratio |
$ | (3,427 | ) | $ | 51,114 | $ | 25,415 | $ | 39,368 | $ | 10,024 | $ | 111,740 | $ | 69,223 | |||||||||||||
Ratio of Earnings to Fixed
Charges (1)(2) |
— | (3) | 26.6 | 12.9 | 4.7 | — | (4) | 31.0 | 8.8 | |||||||||||||||||||
| (1) | In calculating the ratio of earnings to fixed charges, “earnings” consist of pretax income (loss) before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees, plus fixed charges (excluding capitalized interest), plus distributed income of equity investees. “Fixed charges” represent interest incurred (whether expensed or capitalized), amortization of debt costs and an estimate of the interest within rental expense. | |
| (2) | For purposes of calculating the ratio of earnings to fixed charges, the amount included in the calculation for distributed income from equity investees is reflected in the period the related distribution was officially approved by the equity investee’s board of directors even when cash may have been received in the form of an advance from the equity investee in a previous period. | |
| (3) | At September 30, 2009, fixed charges exceeded earnings by less than $5,000. | |
| (4) | In 2006, fixed charges exceeded earnings by $13.3 million. |