Exhibit 12.1
PIONEER NATURAL RESOURCES COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
For the year ended December 31, | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
Income from continuing operations before income taxes and cumulative effect of change in accounting principle | $ | 308,988 | $ | 350,466 | $ | 197,511 | $ | 143,166 | $ | 39,540 | ||||||||||
Rental expense attributable to interest | 2,007 | 1,865 | 1,261 | 326 | 281 | |||||||||||||||
Interest expense | 107,032 | 126,086 | 102,017 | 91,264 | 95,729 | |||||||||||||||
Earnings | $ | 418,027 | $ | 478,417 | $ | 300,789 | $ | 234,756 | $ | 135,550 | ||||||||||
Rental expense attributable to interest | $ | 2,007 | $ | 1,865 | $ | 1,261 | $ | 326 | $ | 281 | ||||||||||
Interest expense | 107,032 | 126,086 | 102,017 | 91,264 | 95,729 | |||||||||||||||
Capitalized interest | 12,166 | 1,089 | 2,016 | 5,448 | 12,251 | |||||||||||||||
Fixed charges | $ | 121,205 | $ | 129,040 | $ | 105,294 | $ | 97,038 | $ | 108,261 | ||||||||||
Ratio of earnings to fixed charges | 3.45 | 3.71 | 2.86 | 2.42 | 1.25 | |||||||||||||||