Exhibit 12.2
GOODRICH PETROLEUM CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE SECURITIES DIVIDENDS
Year ended December 31, | ||||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 1,109,902 | $ | 1,051,198 | $ | 985,185 | $ | 1,290,681 | $ | 4,390,331 | ||||||||||
Preference securities dividends | 973,802 | 974,558 | 984,235 | 963,586 | 1,193,768 | |||||||||||||||
2,083,704 | 2,025,756 | 1,969,420 | 2,254,267 | 5,584,099 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) before income taxes | 16,071,192 | 6,043,870 | (1,457,383 | ) | 3,445,640 | 3,476,737 | ||||||||||||||
Plus: fixed charges | 2,083,704 | 2,025,756 | 1,969,420 | 2,254,267 | 5,584,099 | |||||||||||||||
Preference securities dividends | (973,802 | ) | (974,558 | ) | (984,235 | ) | (963,586 | ) | (1,193,768 | ) | ||||||||||
$ | 17,181,094 | $ | 7,095,068 | $ | (472,198 | ) | $ | 4,736,321 | $ | 7,867,068 | ||||||||||
Ratio of Earnings to Fixed Charges and Preference Securities Dividends | 8.25 | 3.50 | (0.24 | ) | 2.10 | 1.41 | ||||||||||||||