EX-12.1 4 exhibit12-1.htm RATIO OF EARNINGS TO FIXED CHARGES exhibit12-1.htm
Exhibit 12.1
 
Legacy Reserves LP
Computation of Ratios of Earnings to Fixed Charges
(In thousands, except ratios)
 
    Three Months                                      
    Ended                                      
    March 31,   Years Ended December 31,
    2011   2010   2009   2008   2007   2006
Income (loss) before income taxes     $           (60,700 )     $     11,346       $     (92,277 )     $     154,551       $     (55,325 )     $     4,357
Equity in (income) loss of equity method                                              
       investee     (29 )     (97 )     (31 )     (108 )     (77 )     318
Distributed income of equity method investee     —       —       —       —       —       —
Income (loss) from operations before income                                              
       taxes   $ (60,729 )   $ 11,249     $ (92,308 )   $ 154,443     $ (55,402 )   $ 4,675
 
Fixed Charges                                              
 
Interest expensed   $ 4,598     $ 16,415     $ 15,366     $ 11,442     $ 6,894     $ 6,284
Amortization of debt issuance costs     468       2,023       1,646       748       224       361
Estimated portion of rental expense attributable to                                              
       interest     28       112       59       59       59       27
Total fixed charges   $ 5,094     $ 18,550     $ 17,071     $ 12,249     $ 7,177     $ 6,672
 
Earnings available for fixed charges   $ (55,635 )   $ 29,799     $ (75,237 )   $ 166,692     $ (48,225 )   $ 11,347
 
Ratio of earnings to fixed charges     (1 )     1.61x       (2 )     13.61x       (3 )     1.70x
 
____________________
 
(1)   Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $60.729 million
(2)   Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $92.308 million
(3)       Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $55.402 million