Attached files
file | filename |
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10-K - 10-K - Amplify Energy Corp. | a2223529z10-k.htm |
EX-32.2 - EX-32.2 - Amplify Energy Corp. | a2223529zex-32_2.htm |
EX-99.1 - EX-99.1 - Amplify Energy Corp. | a2223529zex-99_1.htm |
EX-21.1 - EX-21.1 - Amplify Energy Corp. | a2223529zex-21_1.htm |
EX-23.2 - EX-23.2 - Amplify Energy Corp. | a2223529zex-23_2.htm |
EX-31.1 - EX-31.1 - Amplify Energy Corp. | a2223529zex-31_1.htm |
EX-31.2 - EX-31.2 - Amplify Energy Corp. | a2223529zex-31_2.htm |
EX-99.2 - EX-99.2 - Amplify Energy Corp. | a2223529zex-99_2.htm |
EX-32.1 - EX-32.1 - Amplify Energy Corp. | a2223529zex-32_1.htm |
EX-23.1 - EX-23.1 - Amplify Energy Corp. | a2223529zex-23_1.htm |
EX-23.3 - EX-23.3 - Amplify Energy Corp. | a2223529zex-23_3.htm |
EXCEL - IDEA: XBRL DOCUMENT - Amplify Energy Corp. | Financial_Report.xls |
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MIDSTATES PETROLEUM COMPANY, INC.
RATIO OF EARNINGS TO FIXED CHARGES AND TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
(In thousands, except ratios)
|
Year Ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||
Earnings available before fixed charges: |
||||||||||||||||
Pre-tax income (loss) |
123,324 | (490,514 | ) | 7,789 | 16,657 | (15,635 | ) | |||||||||
Add: Fixed charges |
150,661 | 115,881 | 24,755 | 5,723 | 2,114 | |||||||||||
| | | | | | | | | | | | | | | | |
Total additive items |
273,985 | (374,633 | ) | 32,544 | 22,380 | (13,521 | ) | |||||||||
Less: Capitalized interest |
(12,415 | ) | (32,245 | ) | (11,175 | ) | (2,600 | ) | (1,654 | ) | ||||||
| | | | | | | | | | | | | | | | |
Total earnings available for fixed charges |
$ | 261,570 | $ | (406,878 | ) | $ | 21,369 | $ | 19,780 | $ | (15,175 | ) | ||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Interest expensed |
$ | 129,691 | $ | 77,179 | $ | 11,711 | $ | 2,094 | $ | | ||||||
Interest capitalized |
12,415 | 32,245 | 11,175 | 2,600 | 1,654 | |||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness |
7,857 | 5,960 | 1,529 | 850 | 314 | |||||||||||
Portion of rental expense which represents interest factor(1) |
698 | 497 | 340 | 179 | 146 | |||||||||||
| | | | | | | | | | | | | | | | |
Total Fixed Charges |
$ | 150,661 | $ | 115,881 | $ | 24,755 | $ | 5,723 | $ | 2,114 | ||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Ratio of earnings to fixed charges |
1.7 | (b | ) | (c | ) | 3.5 | (d | ) | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Total fixed charges |
$ | 150,661 | $ | 115,881 | $ | 24,755 | $ | 5,723 | $ | 2,114 | ||||||
Pre-tax preferred dividends(a) |
30,863 | 38,588 | 10,844 | | | |||||||||||
| | | | | | | | | | | | | | | | |
Total fixed charges plus preferred dividends |
$ | 181,524 | $ | 154,469 | $ | 35,599 | $ | 5,723 | $ | 2,114 | ||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Ratio of earnings to combined fixed charges and preferred dividends |
1.4 | (b | ) | (c | ) | 3.5 | (d | ) | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
- (a)
- Prior
to October 1, 2012, the Company did not have any preferred stock outstanding. Preferred dividends shown herein relate to the Company's
Series A Mandatorily Convertible Preferred Stock ("Series A Preferred Stock") issued on October 1, 2012, which allows, at the Company's option, for the 8% annual dividend payment
to be made either in cash or through an adjustment to the Series A Preferred Stock liquidation preference. Pre-tax preferred stock dividend amounts for the years ended December 31, 2014,
2013 and 2012 were calculated utilizing the Company's effective tax rate for the applicable periods (5.2%, 29.9%, 40.1%, respectively) and represent the notional dividend amount as though paid in
cash, rather than through an adjustment to the Series A Preferred Stock liquidation preference.
- (b)
- Earnings
for the year ended December 31, 2013 were inadequate to cover fixed charges and combined fixed charges and preferred dividends. The coverage
deficiency was $522.8 million and $561.3 million, respectively.
- (c)
- Earnings
for the year ended December 31, 2012 were inadequate to cover fixed chargesand combined fixed charges and preferred dividends. The coverage
deficiency was $3.4 million and $14.2 million, respectively.
- (d)
- Earnings for the year ended December 31, 2010 were inadequate to cover fixed charges and combined fixed charges and preferred dividends. The coverage deficiency was $17.3 million and $17.3 million, respectively.
MIDSTATES PETROLEUM COMPANY, INC. RATIO OF EARNINGS TO FIXED CHARGES AND TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS (In thousands, except ratios)