EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth the ratios of earnings to fixed charges for each of the periods indicated. All dollar amounts are reported in thousands.
Successor | Predecessor | ||||||||||||||||||||
Constellation Energy Partners LLC | Everlast Energy LLC | ||||||||||||||||||||
2008 | 2007 | 2006 | For the period from February 7, 2005 (inception) to December 31, 2005 | For the period from January 1, 2005 (inception) to June 12, 2005 | 2004 | ||||||||||||||||
Net Income (loss)(1) | $ | 7,652 | $ | 14,241 | $ | 15,989 | $ | 11,941 | $ | (10,636 | ) | $ | 2,099 | ||||||||
Fixed Charges: | |||||||||||||||||||||
Total Fixed Charges(2) | 12,256 | 6,930 | 221 | 3 | 2,437 | 3,028 | |||||||||||||||
Total | 12,256 | 6,930 | 221 | 3 | 2,437 | 3,028 | |||||||||||||||
Earnings (loss)(3) | $ | 19,908 | $ | 21,171 | $ | 16,210 | $ | 11,944 | $ | (8,199 | ) | $ | 5,127 | ||||||||
Ratio of earnings (loss) to fixed charges | 1.62 | 3.05 | 73.35 | 3,981.33 | (3.36 | ) | 1.69 | ||||||||||||||
(1) | Net income is the equivalent of income from continuing operations, as CEP has no discontinued operations. |
(2) | Fixed charges equal the sum of the following: interest expensed and capitalized; amortized premiums, discounts, and capitalized expenses related to indebtedness; and an estimate of the interest within rent expense. |
(3) | Earnings are deemed to consist of income from continuing operations and fixed charges. |