Goodrich Petroleum 10-K2015 FY Annual report

Filed: 30 Mar 16, 12:00am

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Exhibit 12.2

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE SECURITIES DIVIDENDS

(In Thousands, Except Ratios)

	Year ended December 31,
	2015			2014			2013			2012			2011
Earnings:
Income (loss) before income taxes	$	(479,424	)	$	(353,136	)	$	(95,186	)	$	(84,202	)	$	(31,758	)
Plus: fixed charges		54,807			47,829			51,187			58,450			55,398
Preference securities dividends		(25,325	)		(29,722	)		(18,604	)		(6,047	)		(6,047	)
Earnings available for fixed charges	$	(449,942	)	$	(335,029	)	$	(62,603	)	$	(31,799	)	$	17,593
Fixed Charges:
Interest expense	$	54,807		$	47,829		$	51,187		$	52,403		$	49,351
Preference securities dividends		25,325			29,722			18,604			6,047			6,047
Total fixed charges	$	80,132		$	77,551		$	69,791		$	58,450		$	55,398
Ratio of Earnings to Fixed Charges and Preference Securities Dividends	(a)			(b)			(c)			(d)			(e)

(a)	Earnings for the year ended December 31, 2015 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $530.1 million.

(b)	Earnings for the year ended December 31, 2014 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $412.6 million.

(c)	Earnings for the year ended December 31, 2013 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $132.4 million.

(d)	Earnings for the year ended December 31, 2012 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $90.2 million.

(e)	Earnings for the year ended December 31, 2011 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $37.8 million.

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