RSP Permian, Inc.
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
|
| | | | | | | | | | | | | | | | | | | | |
| | | RSP Permian, Inc. | | Predecessor |
| | | Year Ended December 31, | | Year Ended December 31, |
| | | 2015 | | 2014 (1) | | 2013 | | 2012 | | 2011 |
| | | | | | | | | |
| Earnings: | | | | |
| | | | |
| | |
|
| Pre-tax income (loss) | | $ | (29,937 | ) | | $ | 160,304 |
| | $ | 65,000 |
| | $ | 35,569 |
| | $ | 131,722 |
|
| Add: Loss (gain) from equity investee | | $ | (8 | ) | | $ | 98 |
| | $ | — |
| | $ | — |
| | $ | — |
|
| Add: Interest expense | | $ | 43,538 |
| | $ | 14,031 |
| | $ | 5,216 |
| | $ | 3,474 |
| | $ | 3,472 |
|
| Add: Estimate of interest within rental expense | | $ | 309 |
| | $ | 156 |
| | $ | 83 |
| | $ | 79 |
| | $ | 69 |
|
| Total earnings | | $ | 13,902 |
| | $ | 174,589 |
| | $ | 70,299 |
| | $ | 39,122 |
| | $ | 135,263 |
|
| | | | | | | | | | | |
| Fixed charges: | | | | | | | | | | |
| Interest expense | | $ | 43,538 |
| | $ | 14,031 |
| | $ | 5,216 |
| | $ | 3,474 |
| | $ | 3,472 |
|
| Estimate of interest within rental expense | | $ | 309 |
| | $ | 156 |
| | $ | 83 |
| | $ | 79 |
| | $ | 69 |
|
| Total fixed charges | | $ | 43,847 |
| | $ | 14,187 |
| | $ | 5,299 |
| | $ | 3,553 |
| | $ | 3,541 |
|
| | | | | | | | | | | |
| Ratio of earnings to Fixed Charges(2) | | 0.32 | | 12.31 | | 13.27 | | 11.01 | | 38.20 |
(1) Represents RSP Permian, Inc.'s predecessor's historical financial data for the first 22 days plus RSP Permian, Inc.'s historical financial data for the remainder of the year.
(2) Earnings in the year ended December 31, 2015 were insufficient by $29.9 million to cover fixed charges.
