Exhibit 12.1
GOODRICH PETROLEUM CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except Ratios)
| Successor | Predecessor | Predecessor Year ended December 31, | ||||||||||||||||||||||||
| October 13, 2016 to December 31, 2016 | January 1, 2016 to October 12, 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (4,307 | ) | $ | 369,944 | $ | (479,424 | ) | $ | (353,136 | ) | $ | (95,186 | ) | $ | (84,202 | ) | |||||||||
Plus: fixed charges | 1,824 | 11,398 | 54,807 | 47,829 | 51,187 | 52,403 | ||||||||||||||||||||
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Earnings available for fixed charges | $ | (2,483 | ) | $ | 381,342 | $ | (424,617 | ) | $ | (305,307 | ) | $ | (43,999 | ) | $ | (31,799 | ) | |||||||||
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Fixed Charges: | ||||||||||||||||||||||||||
Interest expense | $ | 1,824 | $ | 11,398 | $ | 54,807 | $ | 47,829 | $ | 51,187 | $ | 52,403 | ||||||||||||||
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Total fixed charges | $ | 1,824 | $ | 11,398 | $ | 54,807 | $ | 47,829 | $ | 51,187 | $ | 52,403 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | (a | ) | 33.46 | (b | ) | (c | ) | (d | ) | (e | ) | |||||||||||||||
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| (a) | Successor Company earnings for the year ended December 31, 2016 were inadequate to cover fixed charges. The coverage deficiency was $4.3 million. |
| (b) | Predecessor Company earnings for the year ended December 31, 2015 were inadequate to cover fixed charges. The coverage deficiency was $479.4 million. |
| (c) | Predecessor Company earnings for the year ended December 31, 2014 were inadequate to cover fixed charges. The coverage deficiency was $353.1 million. |
| (d) | Predecessor Company earnings for the year ended December 31, 2013 were inadequate to cover fixed charges. The coverage deficiency was $95.2 million. |
| (e) | Predecessor Company Earnings for the year ended December 31, 2012 were inadequate to cover fixed charges. The coverage deficiency was $84.2 million. |
