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Content analysis
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Exhibit 12.1
ANTERO RESOURCES LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
|
| 2009 |
| 2010 |
| 2011 |
| 2012 |
| 2013 |
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Pre-tax income (loss) from continuing operations |
| $ | (60,197 | ) | $ | 1,155 |
| $ | 456,485 |
| $ | 346,505 |
| $ | (24,187 | ) |
Fixed charges |
| 36,348 |
| 56,736 |
| 74,743 |
| $ | 97,877 |
| $ | 137,343 |
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Total adjusted earnings available for payment of fixed charges |
| $ | (23,849 | ) | $ | 57,891 |
| $ | 531,228 |
| $ | 444,382 |
| $ | 113,156 |
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Fixed charges |
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Interest expense, including amortization of debt related expenses |
| $ | 36,053 |
| $ | 56,463 |
| $ | 74,404 |
| $ | 97,510 |
| $ | 136,617 |
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Rental expense representative of interest factor |
| $ | 295 |
| $ | 273 |
| $ | 339 |
| $ | 367 |
| $ | 726 |
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Total fixed charges |
| $ | 36,348 |
| $ | 56,736 |
| $ | 74,743 |
| $ | 97,877 |
| $ | 137,343 |
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Ratio of earnings to fixed charges |
| NA | (1) | 1.02 | X | 7.11 | X | 4.54 | X | NA | (2) |
(1) Earnings are deficient to cover fixed charges by $60,197.
(2) Earnings are deficient to cover fixed charges by $24,187.