GRAN TIERRA ENERGY INC. - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 27, 2018

Attached files

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EX-32.1 - EXHIBIT 32.1 - GRAN TIERRA ENERGY INC.gte-20171231xex321.htm
EX-31.2 - EXHIBIT 31.2 - GRAN TIERRA ENERGY INC.gte-20171231xex312.htm
EX-31.1 - EXHIBIT 31.1 - GRAN TIERRA ENERGY INC.gte-20171231xex311.htm
EX-23.2 - EXHIBIT 23.2 - GRAN TIERRA ENERGY INC.gte-20171231xex232.htm
EX-23.1 - EXHIBIT 23.1 - GRAN TIERRA ENERGY INC.gte-20171231xex231.htm
EX-21.1 - EXHIBIT 21.1 - GRAN TIERRA ENERGY INC.gte-20171231xex211.htm
EX-10.12 - EXHIBIT 10.12 - GRAN TIERRA ENERGY INC.gte-20171231xex1012.htm
EX-10.11 - EXHIBIT 10.11 - GRAN TIERRA ENERGY INC.gte-20171231xex1011.htm
EX-10.10 - EXHIBIT 10.10 - GRAN TIERRA ENERGY INC.gte-20171231xex1010.htm
10-K - 10-K - GRAN TIERRA ENERGY INC.gte-20171231x10k.htm


Exhibit 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

Our earnings were insufficient to cover fixed charges for the years ended December 31, 2016, 2015 and 2014. The following table sets forth our ratio of earnings to fixed charges for the years ended December 31, 2017 and 2013, and our deficiency of earnings available to cover fixed charges for the years ended December 31, 2016, 2015 and 2014.
 
Year Ended December 31,
 
2017
2016
2015
2014
2013
Fixed charges
 
 
 
 
 
Contractual interest and financing expenses
$
11,467

$
8,454

$
—

$
—

$
—

Amortization of debt issuance costs
2,415

5,691

—

—

—

Interest portion of rental expense
57

44

31

18

21

Total fixed charges
$
13,939

$
14,189

$
31

$
18

$
21

 
 
 
 
 
 
Income (loss) from continuing operations before tax
$
37,330

$
(650,234
)
$
(368,088
)
$
(17,134
)
$
309,284

Fixed charges per above
13,939

14,189

31

18

21

 
$
51,269

$
(636,045
)
$
(368,057
)
$
(17,116
)
$
309,305

 
 
 
 
 
 
Ratio of earnings to fixed charges
4

 
 
 
14,729

Deficiency of earnings available to cover fixed charges
 
$
(636,045
)
$
(368,057
)
$
(17,116
)
 




GRAN TIERRA ENERGY INC. Reports