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EXCEL - IDEA: XBRL DOCUMENT - UNIT CORPFinancial_Report.xls
EX-21 - SUBSIDIARIES OF THE REGISTRANT - UNIT CORPunt-20141231x10kxexx21.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, PRICEWATERHOUSECOOPERS - UNIT CORPunt-20141231x10kxexx231.htm
EX-23.2 - CONSENT OF RYDER SCOTT COMPANY, L.P. - UNIT CORPunt-20141231x10kxexx232.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - UNIT CORPunt-20141231x10kxexx311.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - UNIT CORPunt-20141231x10kxexx312.htm
EX-99.1 - RYDER SCOTT COMPANY, L.P. SUMMARY REPORT - UNIT CORPunt-201412x31x10kxexx991.htm
10-K - 10-K - UNIT CORPunt-20141231x10k.htm
EX-32 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER SECTION 906 - UNIT CORPunt-20141231x10kxexx32.htm


Exhibit 12
Unit Corporation
Computation Ratio of Earnings to Fixed Charges

 
2014
 
2013
 
2012
 
2011
 
2010
 
 
(Dollars in thousands)
 
Income from continuing operations before income taxes
$
222,939

 
$
301,469

 
$
39,402

 
$
319,002

 
$
237,221

 
(Income) loss from equity investments
133

 
238

 
205

 
295

 
(69
)
 
Distribution from equity investments
303

 
144

 

 

 
682

 
Interest expense
16,904

 
14,578

 
13,878

 
4,167

 

 
Amortization of capitalized interest
5,454

(3) 
3,080

 
4,922

(3) 
1,654

 
1,145

 
Amortization of bond discount
467

 
437

 
259

 

 

 
Earnings
$
246,200

 
$
319,946

 
$
58,666

 
$
325,118

 
$
238,979

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (1)
 
 
 
 
 
 
 
 
 
 
Interest expense
$
16,904

 
$
14,578

 
$
13,878

 
$
4,167

 
$

 
Capitalized interest
32,246

 
33,670

 
18,867

 
11,478

 
4,526

 
Amortization of bond discount
467

 
437

 
259

 

 

 
Total fixed charges
$
49,617

 
$
48,685

 
$
33,004

 
$
15,645

 
$
4,526

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
5.0

x
6.6

x
1.8

x
20.8

x
52.8

x
_________________________
(1)
Fixed charges are determined as defined in instructions for Item 503 of Regulation S-K of the Securities Act.
(2)
There were no shares of preferred stock outstanding during any of the time periods indicated in the table.
(3)
Amortization of capitalized interest includes the proportionate amount related to the ceiling test write-down.