ATP OIL & GAS CORP - FORM 8-K - EX-12.1 - RATIO OF COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS TO EARNINGS - June 21, 2011

Attached files

file filename
8-K - FORM 8-K - ATP OIL & GAS CORPd8k.htm
EX-4.1 - FORM OF STOCK CERTIFICATE - ATP OIL & GAS CORPdex41.htm
EX-3.1 - STATEMENT OF RESOLUTIONS - ATP OIL & GAS CORPdex31.htm
EX-1.1 - UNDERWRITING AGREEMENT - ATP OIL & GAS CORPdex11.htm
EX-10.1 - AMENDED AND RESTATED LETTER AGREEMENT - ATP OIL & GAS CORPdex101.htm
EX-99.1 - PRESS RELEASE DATED JUNE 14, 2011 - ATP OIL & GAS CORPdex991.htm
EX-99.2 - PRESS RELEASE DATED JUNE 15, 2011 - ATP OIL & GAS CORPdex992.htm
EX-99.3 - PRESS RELEASE DATED JUNE 20, 2011 - ATP OIL & GAS CORPdex993.htm

Exhibit 12.1

CALCULATION OF RATIO OF COMBINED FIXED CHARGES AND

PREFERENCE DIVIDENDS TO EARNINGS

 

     Year Ended December 31,     Three
Months
Ended
March 31,		  
     2006      2007     2008      2009     2010     2011  

Net income (loss)

    $ 6,877       $ 48,620     $ 121,705       $ (35,581 )    $ (322,046 )    $ (113,226 ) 

Income taxes

      16,794         (631 )      49,973         (22,534 )      (36,273 )      9,142  

Extraordinary items

      —           —          —           —            —     
                                                  

Pre-tax income (loss) from continuing operations

      23,671         47,989       171,678         (58,115 )      (358,319 )      (104,084 ) 

Add:

               

Interest expense, net

      58,018         121,302       100,729         40,884       222,104       75,485  

Amortization of capitalized interest

      —           —          —           —            —     

Less:

               

Noncontrolling interest in pre-tax income of ATPIP

      —           —          —           (13,380 )      (23,851 )      (5,482 ) 
                                                  

Earnings

    $ 81,689       $ 169,291     $ 272,407       $ (30,611 )    $ (160,066 )    $ (34,081 ) 
                                                  

Interest incurred (expensed and capitalized)

    $ 58,018       $ 129,319     $ 145,300       $ 150,947     $ 275,358     $ 80,461  

Estimated interest in rental expense

      —           —          —           —            —     

Preference security dividend requirements

      71,115         —          —           4,394       17,305       4,243  
                                                  

Fixed charges

    $ 129,133       $ 129,319     $ 145,300       $ 155,341     $ 292,662     $ 84,704  
                                                  

Ratio of Combined Fixed Charges and Preference Dividends to Earnings

      0.6x        1.3x       1.9x        -0.2x       -0.5x       -0.4x  

ATP OIL & GAS CORP Reports