Exhibit 12.1
Computation of Ratio of Earning to Fixed Charges
Resolute Energy Corporation
Ratio of Earning to Fixed Charges
(in thousands)
| Nine Months Ended September 30, 2016 |
|
| Years Ended December 31, |
| |||||||||||||||||||
|
| 2016 |
|
| 2015 |
|
| 2014 |
|
| 2013 |
|
| 2012 |
|
| 2011 |
| ||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes |
|
| (141,074 | ) |
|
| (764,633 | ) |
|
| (25,990 | ) |
|
| (178,485 | ) |
|
| 29,857 |
|
|
| 48,355 |
|
Fixed charges, excluding capitalized interest |
|
| 41,567 |
|
|
| 67,384 |
|
|
| 35,845 |
|
|
| 33,499 |
|
|
| 18,758 |
|
|
| 6,012 |
|
Earnings |
|
| (99,507 | ) |
|
| (697,249 | ) |
|
| 9,855 |
|
|
| (144,986 | ) |
|
| 48,615 |
|
|
| 54,367 |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, including capitalized interest |
|
| 40,756 |
|
|
| 70,345 |
|
|
| 46,429 |
|
|
| 47,832 |
|
|
| 22,094 |
|
|
| 5,145 |
|
Estimate of interest within rental expense |
|
| 2,237 |
|
|
| 3,026 |
|
|
| 4,356 |
|
|
| 4,198 |
|
|
| 3,235 |
|
|
| 2,167 |
|
Fixed charges |
|
| 42,993 |
|
|
| 73,371 |
|
|
| 50,785 |
|
|
| 52,030 |
|
|
| 25,329 |
|
|
| 7,312 |
|
Ratio of earnings to fixed charges |
| (a) |
|
| (a) |
|
| (a) |
|
| (a) |
|
|
| 1.9 |
|
|
| 7.4 |
| ||||
(a) | Ratio is less than one; earnings are inadequate to cover fixed charges. The dollar amount of the coverage deficiency was$142.5 million for the nine months ended September 30, 2016 and $770.6 million, $40.9 million and $197.0 million for the years ended December 31, 2015, December 31, 2014 and December 31, 2013, respectively. |
