Cimarex Resolute (REN) Inactive 10-K2017 FY Annual report

Filed: 12 Mar 18, 12:00am

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Exhibit 12.1

Computation of Ratio of Earning to Fixed Charges and Preferred Stock Dividends

Resolute Energy Corporation

Ratio of Earning to Fixed Charges and Preferred Stock Dividends

(in thousands)

	Years Ended December 31,
	2017			2016			2015			2014			2013
Earnings:
Income (loss) before income taxes		(1,526	)		(161,631	)		(764,633	)		(25,990	)		(178,485	)
Fixed charges, excluding capitalized interest		46,077			53,534			67,384			35,845			33,499
Earnings		44,551			(108,097	)		(697,249	)		9,855			(144,986	)
Fixed charges:
Interest expense, including capitalized interest		59,291			54,813			70,345			46,429			47,832
Estimate of interest within rental expense		2,628			2,851			3,026			4,356			4,198
Fixed charges		61,919			57,664			73,371			50,785			52,030

Preferred stock dividends^(a)		6,475			1,184			—			—			—

Ratio of earnings to fixed charges and preferred stock dividends	(b)			(b)			(b)			(b)			(b)

(a)	The amounts disclosed herein for preferred stock dividends represent declared as of December 31, 2017 and accumulated but not yet declared dividends as of December 31, 2016.

(b)

Ratio is less than one; earnings are inadequate to cover fixed charges. The dollar amount of the coverage deficiency was $23.8 million, $166.9 million, $770.6 million, $40.9 million and $197 million for the years ended December 31, 2017, December 31, 2016, December 31, 2015, December 31, 2014 and December 31, 2013, respectively.