PDC ENERGY, INC. - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. - February 22, 2016

Attached files

file filename
10-K - PDC ENERGY 2015 FORM 10-K - PDC ENERGY, INC.pdce-10kxfy15.htm
EX-99.1 - REPORT OF INDEPENDENT PETROLEUM CONSULTANTS - RYDER SCOTTCOMPANY, L.P. - PDC ENERGY, INC.a2015_10kxexx991.htm
EX-23.1 - CONSENT OF PRICEWATERHOUSECOOPERS LLP. - PDC ENERGY, INC.a2015_10kxexx231.htm
EX-23.2 - CONSENT OF RYDER SCOTT COMPANY, L.P., PETROLEUM CONSULTANTS. - PDC ENERGY, INC.a2015_10kxexx232.htm
EX-31.1 - 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - PDC ENERGY, INC.a2015_10kxexx311.htm
EX-32.1 - 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - PDC ENERGY, INC.a2015_10kxexx321.htm
EX-10.11.1 - FIRST AND SECOND AMENDMENTS TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT - PDC ENERGY, INC.a2015_10kxexx10111.htm
EX-21.1 - SUBSIDIARIES - PDC ENERGY, INC.a2015_10kxexx211.htm
EX-10.5 - AMENDED AND RESTATED 2010 LONG-TERM EQUITY COMPENSATION PLAN,AS AMENDED - PDC ENERGY, INC.a2015_10kxexx105.htm
EX-10.6 - EXECUTIVE SEVERANCE COMPENSATION PLAN, AS AMENDED. - PDC ENERGY, INC.a2015_10kxexx106.htm
EX-31.2 - 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - PDC ENERGY, INC.a2015_10kxexx312.htm
EX-10.7.8 - FORM OF 2016 PERFORMANCE SHARE AGREEMENT - PDC ENERGY, INC.a2015_10kxexx1078.htm


Exhibit No. 12.1


PDC ENERGY, INC.
 
Statement of Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
 
(dollars in thousands)
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
 
$
(106,588
)
 
$
177,228

 
$
(32,963
)
 
$
(30,688
)
 
$
35,268

 
Fixed charges (see below)
 
55,844

 
53,512

 
54,002

 
50,228

 
40,127

 
Amortization of capitalized interest
 
2,486

 
1,379

 
1,096

 
871

 
675

 
Interest capitalized
 
(5,060
)
 
(3,468
)
 
(1,709
)
 
(896
)
 
(1,454
)
 
Total adjusted earnings (loss) available for fixed charges
 
$
(53,318
)
 
$
228,651

 
$
20,426

 
$
19,515

 
$
74,616

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest and debt expense (a)
 
$
47,571

 
$
47,842

 
$
50,143

 
$
47,505

 
$
36,759

 
Interest capitalized
 
5,060

 
3,468

 
1,709

 
896

 
1,454

 
Interest component of rental expense (b)
 
3,213

 
2,202

 
2,150

 
1,827

 
1,914

 
Total fixed charges
 
$
55,844

 
$
53,512

 
$
54,002

 
$
50,228

 
$
40,127

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
—

(c)
4.3
x
 
—

(c)
—

(c)
1.9
x
 
 
 
 
 
 
 
 
 
 
 
 
 
__________
(a)
Represents interest expense on long-term debt and amortization of debt discount and issuance costs.
(b)
Represents the portion of rental expense which we believe represents an interest component.
(c)
For the years ended December 31, 2015, 2013 and 2012, earnings were insufficient to cover total fixed charges by $109.2 million, $33.6 million and $30.7 million, respectively.


Stock widget

Investing forum

PDC ENERGY, INC. Reports