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Legacy Reserves LP
Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
| Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||
Income (loss) before income taxes | $ | 12,235 | $ | 69,733 | $ | 73,091 | $ | 11,346 | $ | (92,277 | ) | $ | 154,551 | ||||||
Equity in (income) loss of equity method investee | (357 | ) | (111 | ) | (138 | ) | (97 | ) | (31 | ) | (108 | ) | |||||||
Distributed income of equity method investee | 631 | — | — | — | — | — | |||||||||||||
Income (loss) from operations before income taxes | $ | 12,509 | $ | 69,622 | $ | 72,953 | $ | 11,249 | $ | (92,308 | ) | $ | 154,443 | ||||||
Fixed Charges | |||||||||||||||||||
Interest expensed | $ | 37,134 | $ | 21,140 | $ | 18,981 | $ | 16,415 | $ | 15,366 | $ | 11,442 | |||||||
Amortization of debt issuance costs | 2,826 | 1,626 | 1,528 | 2,023 | 1,646 | 748 | |||||||||||||
Estimated portion of rental expense attributable to interest | 172 | 148 | 134 | 112 | 59 | 59 | |||||||||||||
Total fixed charges | $ | 40,132 | $ | 22,914 | $ | 20,643 | $ | 18,550 | $ | 17,071 | $ | 12,249 | |||||||
Earnings available for fixed charges | $ | 52,642 | $ | 92,536 | $ | 93,596 | $ | 29,799 | $ | (75,237 | ) | $ | 166,692 | ||||||
Ratio of earnings to fixed charges | 1.31x | 4.04x | 4.53x | 1.61x | (1 | ) | 13.61x | ||||||||||||
- (1)
- Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $92.308 million
1
Legacy Reserves LP Computation of Ratios of Earnings to Fixed Charges (in thousands, except ratios)