EX-12.1 5 a2236560zex-12_1.htm EX-12.1
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Exhibit 12.1

Kosmos Energy Ltd.
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)

 
   
  Years Ended December 31,  
 
  Three Months
Ended June 30,
2018
 
 
  2017   2016   2015   2014   2013  

EARNINGS:

                                     

Add:

                                     

Income (loss) before income taxes

  $ (223,192 ) $ (177,855 ) $ (294,564 ) $ 85,436   $ 578,268   $ 75,954  

Fixed charges

    72,870     176,158     207,204     169,725     95,966     75,028  

Amortization of capitalized interest

    10,566     20,200     12,335     13,093     7,601     5,990  

Less:

                                     

Capitalized interest

    (14,112 )   (30,282 )   (59,803 )   (52,392 )   (20,577 )   (13,074 )

Earnings as defined

  $ (68,664 ) $ (5,527 ) $ (134,828 ) $ 215,862   $ 661,258   $ 143,898  

FIXED CHARGES:

                                     

Interest Expense

  $ 51,688   $ 101,095   $ 95,700   $ 79,956   $ 53,208   $ 49,885  

Capitalized interest

    14,112     30,282     59,803     52,392     20,577     13,074  

Amortization—deferred financing costs

    4,723     10,204     10,204     10,324     10,548     11,054  

Interest component of rent expense(1)

    2,347     34,577     41,497     27,053     11,633     1,015  

Fixed Charges as defined

  $ 72,870   $ 176,158   $ 207,204   $ 169,725   $ 95,966   $ 75,028  

RATIO OF EARNINGS TO FIXED CHARGES(2)

    N/A     N/A     N/A     1.3x     6.9x     1.9x  

(1)
Represents the portion of rental expense that we believe to be representative of interest expense.

(2)
Earnings were inadequte to cover fixed charges by $141.5 million for the three months ended June 30, 2018 and $181.7 million and $342.0 million for the years ended December 31, 2017 and 2016, respectively.



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Kosmos Energy Ltd. Computation of Ratio of Earnings to Fixed Charges (In thousands, except ratios)