Exhibit 12.1
Quicksilver Resources Inc.
Statement Re: Computation of Ratios
(dollars in thousands)
Statement Re: Computation of Ratios
(dollars in thousands)
Year Ended December 31, | ||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations before income taxes | $ | 127,974 | $ | 45,446 | $ | 28,502 | $ | 21,333 | $ | 30,110 | ||||||||||
Income from equity affiliates | (914 | ) | (1,178 | ) | (1,331 | ) | (200 | ) | (1,125 | ) | ||||||||||
Cash distributions from equity affiliates | 1,475 | 1,564 | 2,251 | 4,441 | 525 | |||||||||||||||
Fixed charges | 22,318 | 16,149 | 20,655 | 20,317 | 24,315 | |||||||||||||||
Earnings | $ | 150,853 | $ | 61,981 | $ | 50,077 | $ | 45,891 | $ | 53,825 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense, including amortization of debt issuance costs | $ | 21,740 | $ | 15,662 | $ | 20,182 | $ | 19,839 | $ | 23,751 | ||||||||||
Estimated interest factor of rental expense | 578 | 487 | 473 | 478 | 564 | |||||||||||||||
Fixed Charges | $ | 22,318 | $ | 16,149 | $ | 20,655 | $ | 20,317 | $ | 24,315 | ||||||||||
Ratio of Earnings to Fixed Charges(1) | 6.8x | 3.8x | 2.4x | 2.3x | 2.2x |
(1) | For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations before income taxes before income from equity affiliates plus distributed earnings from equity affiliates and fixed charges. “Fixed charges” consist of interest expense, including amortization of debt issuance costs and that portion of rental expense considered to be a reasonable approximation of interest. |