CHESAPEAKE ENERGY CORP - FORM 10-K - EX-12 - RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES - February 22, 2018

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EX-99 - REPORT OF SOFTWARE INTEGRATED SOLUTIONS DIVISION OF SCHLUMBERGER TECHNOLOGY CORP - CHESAPEAKE ENERGY CORPchk-ex_99x20171231x10k.htm
EX-32.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 906 - CHESAPEAKE ENERGY CORPchk-ex_322x20171231x10k.htm
EX-32.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 906 - CHESAPEAKE ENERGY CORPchk-ex_321x20171231x10k.htm
EX-31.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 302 - CHESAPEAKE ENERGY CORPchk-ex_312x20171231x10k.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 302 - CHESAPEAKE ENERGY CORPchk-ex_311x20171231x10k.htm
EX-23.2 - CONSENT OF SOFTWARE INTEGRATED SOLUTIONS DIVISION OF SCHLUMBERGER TECHNOLOGY COR - CHESAPEAKE ENERGY CORPchk-ex_232x20171231x10k.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERD PUBLIC ACCOUNTING FIRM - CHESAPEAKE ENERGY CORPchk-ex_231x20171231x10k.htm
EX-21 - SUBSIDIARY LISTING - CHESAPEAKE ENERGY CORPchk-ex_21x20171231x10k.htm
EX-10.9 - EMPLOYMENT AGREEMENT MR. FRANK PATTERSON - CHESAPEAKE ENERGY CORPchk-ex_109x20171231x10k.htm
10-K - 10-K - CHESAPEAKE ENERGY CORPchk-20171231_10k.htm

 
 
EXHIBIT 12


CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS
 
 
 
Years Ended December 31,
 
 
2013
 
2014
 
2015
 
2016
 
2017
EARNINGS:
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes and cumulative effect of accounting change
 
$
1,442

 
$
3,200

 
$
(19,098
)
 
$
(4,589
)
 
$
954

Interest expense(a)
 
207

 
172

 
322

 
275

 
421

Loss on investment in equity investees in excess of distributed earnings
 
219

 
75

 
96

 
8

 
—

Amortization of capitalized interest
 
440

 
438

 
483

 
729

 
487

Loan cost amortization
 
37

 
32

 
31

 
24

 
25

Less: (Income) loss attributable to noncontrolling interests
 
 
 
 
 
68

 
9

 
(4
)
Earnings (losses)
 
$
2,345

 
$
3,917

 
$
(18,098
)
 
$
(3,544
)
 
$
1,883

FIXED CHARGES:
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
207

 
$
172

 
$
322

 
$
275

 
$
421

Capitalized interest
 
815

 
604

 
410

 
242

 
193

Loan cost amortization
 
37

 
32

 
31

 
24

 
25

Fixed Charges
 
$
1,059

 
$
808

 
$
763

 
$
541

 
$
639

PREFERRED STOCK DIVIDENDS:
 
 
 
 
 
 
 
 
 
 
Preferred dividend requirements
 
$
171

 
$
171

 
$
171

 
$
97

 
$
84

Ratio of income (loss) before provision for taxes to net income (loss)(b)
 
1.61

 
1.56

 
1.30

 
1.04

 
1.00

Preferred Dividends
 
$
275

 
$
266

 
$
222

 
$
101

 
$
84

COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
 
$
1,334

 
$
1,074

 
$
985

 
$
642

 
$
723

RATIO OF EARNINGS TO FIXED CHARGES
 
2.2

 
4.8

 
(23.7
)
 
(6.6
)
 
2.9

INSUFFICIENT COVERAGE
 
$
—

 
$
—

 
$
18,861

 
$
4,085

 
$
—

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
 
1.8

 
3.6

 
(18.4
)
 
(5.5
)
 
2.6

INSUFFICIENT COVERAGE
 
$
—

 
$
—

 
$
19,083

 
$
4,186

 
$
—

___________________________________________ 
(a)
Excludes the effect of unrealized gains or losses on interest rate derivatives and includes amortization of bond discount.
(b)
Amounts of income (loss) before provision for taxes and of net income (loss) exclude the cumulative effect of accounting change.



CHESAPEAKE ENERGY CORP Reports