Exhibit 12.1
Legacy Reserves LP
Computation of Ratios of Earnings to Fixed Charges
(In thousands, except ratios)
Computation of Ratios of Earnings to Fixed Charges
(In thousands, except ratios)
| Three Months | |||||||||||||||||||||||
| Ended | |||||||||||||||||||||||
| March 31, | Years Ended December 31, | ||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||
| Income (loss) before income taxes | $ | (60,700 | ) | $ | 11,346 | $ | (92,277 | ) | $ | 154,551 | $ | (55,325 | ) | $ | 4,357 | ||||||||
| Equity in (income) loss of equity method | |||||||||||||||||||||||
| investee | (29 | ) | (97 | ) | (31 | ) | (108 | ) | (77 | ) | 318 | ||||||||||||
| Distributed income of equity method investee | — | — | — | — | — | — | |||||||||||||||||
| Income (loss) from operations before income | |||||||||||||||||||||||
| taxes | $ | (60,729 | ) | $ | 11,249 | $ | (92,308 | ) | $ | 154,443 | $ | (55,402 | ) | $ | 4,675 | ||||||||
| Fixed Charges | |||||||||||||||||||||||
| Interest expensed | $ | 4,598 | $ | 16,415 | $ | 15,366 | $ | 11,442 | $ | 6,894 | $ | 6,284 | |||||||||||
| Amortization of debt issuance costs | 468 | 2,023 | 1,646 | 748 | 224 | 361 | |||||||||||||||||
| Estimated portion of rental expense attributable to | |||||||||||||||||||||||
| interest | 28 | 112 | 59 | 59 | 59 | 27 | |||||||||||||||||
| Total fixed charges | $ | 5,094 | $ | 18,550 | $ | 17,071 | $ | 12,249 | $ | 7,177 | $ | 6,672 | |||||||||||
| Earnings available for fixed charges | $ | (55,635 | ) | $ | 29,799 | $ | (75,237 | ) | $ | 166,692 | $ | (48,225 | ) | $ | 11,347 | ||||||||
| Ratio of earnings to fixed charges | (1 | ) | 1.61x | (2 | ) | 13.61x | (3 | ) | 1.70x | ||||||||||||||
| (1) | Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $60.729 million | |
| (2) | Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $92.308 million | |
| (3) | Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $55.402 million |