Exhibit 12.1
Quicksilver Resources Inc.
Ratio of Earnings to Fixed Charges
(In thousands, except ratio)
Ratio of Earnings to Fixed Charges
(In thousands, except ratio)
Three Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 31, | Year Ended December 31, | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before taxes | $ | (865,132 | ) | $ | (585,077 | ) | $ | 730,806 | $ | 126,248 | $ | 122,658 | $ | 44,597 | ||||||||||
Income of equity investees | (102,084 | ) | (93,298 | ) | (661 | ) | (526 | ) | (914 | ) | (1,178 | ) | ||||||||||||
Cash distributions from equity investees | 11,101 | 42,536 | 10,272 | 2,534 | 1,475 | 1,564 | ||||||||||||||||||
Fixed charges | 42,209 | 120,880 | 79,970 | 52,540 | 28,766 | 16,998 | ||||||||||||||||||
Earnings | $ | (913,906 | ) | $ | (514,959 | ) | $ | 820,387 | $ | 180,796 | $ | 151,985 | $ | 61,981 | ||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, including amortization of debt issue costs | $ | 40,201 | $ | 109,098 | $ | 76,662 | $ | 49,773 | $ | 27,056 | $ | 16,511 | ||||||||||||
Interest capitalized | 1,311 | 9,225 | 1,091 | 1,882 | 1,132 | — | ||||||||||||||||||
Estimated interest factor of rental expense | 697 | 2,557 | 2,217 | 885 | 578 | 487 | ||||||||||||||||||
Fixed Charges | $ | 42,209 | $ | 120,880 | $ | 79,970 | $ | 52,540 | $ | 28,766 | $ | 16,998 | ||||||||||||
Ratio of Earnings to Fixed Charges | — | — | 10.3x | 3.4x | 5.3x | 3.6x | ||||||||||||||||||
Insufficient coverage | $ | 956,115 | $ | 635,839 | $ | — | $ | — | $ | — | $ | — |