Bill Barrett (BBG) 10-K 2012 FY Annual report

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

	Year Ended December 31,
	2008			2009			2010			2011			2012
	($ in thousands)
Pre-tax income from continuing operations	$	168,434		$	88,174		$	128,455		$	48,379		$	2,218
Fixed charges and preferred dividends		21,853			35,696			49,051			52,255			96,698
Amortization of capitalized interest		149			404			713			958			790
Interest capitalized		(1,666	)		(4,576	)		(4,247	)		(1,432	)		(531	)
Preferred dividends		—			—			—			—			—
Total adjusted earnings available for payment of fixed charges	$	188,770		$	119,698		$	173,972		$	100,160		$	99,174
Fixed charges and preferred dividends
Interest expense	$	18,128		$	28,143		$	39,420		$	45,207		$	90,132
Interest capitalized		1,666			4,576			4,247			1,432			531
Amortization of debt-related expenses		1,590			2,504			4,882			5,113			5,374
Rental expense representative of interest factor		469			473			502			503			661
Preferred dividends		—			—			—			—			—
Total fixed charges and preferred dividends	$	21,853		$	35,696		$	49,051		$	52,255		$	96,698
Ratio of earnings to fixed charges		8.6	x		3.4	x		3.5	x		1.9	x		1.0	x
Ratio of earnings to combined fixed charges and preferred dividends(1)		8.6	x		3.4	x		3.5	x		1.9	x		1.0	x

(1) The ratio of earnings to combined fixed charges and preferred dividends is the same as the ratio of earnings to fixed charges because no shares of preferred stock were outstanding during those periods.