Exhibit 12.1
EXCO Resources, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Year ended December 31, | ||||||||||||||||||||
2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
Income (loss) from continuing operations before provision (benefit) for income taxes | $ | (506,305 | ) | $ | 673,534 | $ | 22,596 | $ | (1,393,285 | ) | $ | 22,204 | ||||||||
Equity method (income) loss | 69 | (16,022 | ) | (32,706 | ) | (28,620 | ) | 53,280 | ||||||||||||
Fixed charges | 155,234 | 67,665 | 92,954 | 98,647 | 122,002 | |||||||||||||||
Distributed income of equity investees | — | — | 23,436 | — | — | |||||||||||||||
Capitalized interest | (5,840 | ) | (20,829 | ) | (30,083 | ) | (23,809 | ) | (18,729 | ) | ||||||||||
Total earnings (loss) | $ | (356,842 | ) | $ | 704,348 | $ | 76,197 | $ | (1,347,067 | ) | $ | 178,757 | ||||||||
FIXED CHARGES | ||||||||||||||||||||
Interest expense (1) | 147,161 | 45,533 | 61,023 | 73,492 | 102,589 | |||||||||||||||
Capitalized interest | 5,840 | 20,829 | 30,083 | 23,809 | 18,729 | |||||||||||||||
Interest portion of rental expense | 2,233 | 1,303 | 1,848 | 1,346 | 684 | |||||||||||||||
Total Fixed Charges | $ | 155,234 | $ | 67,665 | $ | 92,954 | $ | 98,647 | $ | 122,002 | ||||||||||
Ratio of Earnings to Fixed Charges | — | 10.41 | 0.82 | — | 1.47 |
(1) | Includes amortization of deferred financing costs and discounts on debt issuance. |