Exhibit 12.1
POSTROCK ENERGY CORPORATION
RATIOS OF EARNINGS TO FIXED CHARGES AND TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS
| Predecessors | ||||||||||||||||||||||||||||
| Year Ended December 31, | January 1 to March 5, | March 6 to December 31, | Year Ended December 31, | Six Months Ended June 31, | ||||||||||||||||||||||||
| 2009 | 2010 | 2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes and minority interest | $ | (235,721 | ) | $ | 22,595 | $ | 48,487 | $ | 19,387 | $ | (44,717 | ) | $ | (8,856 | ) | $ | (12,311 | ) | ||||||||||
Fixed charges | 30,265 | 5,440 | 20,693 | 11,254 | 10,996 | 3,647 | 2,059 | |||||||||||||||||||||
Amortization of capitalized interest | 59 | — | — | — | — | — | — | |||||||||||||||||||||
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Earnings, as adjusted | $ | (205,397 | ) | $ | 28,035 | $ | 69,180 | $ | 30,641 | $ | (33,721 | ) | $ | (5,209 | ) | $ | (10,252 | ) | ||||||||||
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Fixed charges and preferred stock dividend requirements | ||||||||||||||||||||||||||||
Interest expense | $ | 21,812 | $ | 3,246 | $ | 14,416 | $ | 9,002 | $ | 7,680 | $ | 2,781 | $ | 1,618 | ||||||||||||||
Estimated interest expense in rental expense | 692 | 100 | 524 | 544 | 496 | 405 | 181 | |||||||||||||||||||||
Loan cost amortization | 7,761 | 2,094 | 5,753 | 1,708 | 2,820 | 461 | 260 | |||||||||||||||||||||
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Total fixed charges | 30,265 | 5,440 | 20,693 | 11,254 | 10,996 | 3,647 | 2,059 | |||||||||||||||||||||
Preferred stock dividend requirements, pre-tax | — | — | 2,307 | 9,359 | 10,993 | 14,442 | 7,889 | |||||||||||||||||||||
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Combined fixed charges and preferred stock dividend requirements | $ | 30,265 | $ | 5,440 | $ | 23,000 | $ | 20,613 | $ | 21,989 | $ | 18,089 | $ | 9,948 | ||||||||||||||
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Ratio of earnings to fixed charges | (6.8x | ) | 5.2x | 3.3x | 2.7x | (3.1x | ) | (1.4x | ) | (5.0x | ) | |||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividend requirements | (6.8x | ) | 5.2x | 3.0x | 1.5x | (1.5x | ) | (0.3x | ) | (1.0x | ) | |||||||||||||||||
