EX-12.1 3 ex12-1ratio.htm EXHIBIT 12.1 EX12-1 Ratio


Exhibit 12.1
NEW SOURCE ENERGY PARTNERS L.P.
RATIO OF EARNINGS TO FIXED CHARGES

 
 
For the Years Ended December 31,
 
 
2011
 
2012
 
2013
 
2014
 
 
($ in thousands)
EARNINGS:
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
$
9,425

 
$
4,905

 
$
14,496

 
$
(42,075
)
Add:
 
 
 
 
 
 
 
 
Fixed charges
 
3,735

 
3,202

 
4,078

 
5,041

Capitalized interest
 
—

 
—

 
—

 
—

Earnings (loss)
 
$
13,160

 
$
8,107

 
$
18,574

 
$
(37,034
)
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
Interest expense
 
$
3,735

 
$
3,202

 
$
4,078

 
$
5,041

Fixed Charges
 
$
3,735

 
$
3,202

 
$
4,078

 
$
5,041

 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 
3.52

 
2.53

 
4.55

 
(A)



(A)    Earnings for the year ended December 31, 2014 were insufficient to cover fixed charges by approximately $42.1 million, primarily due to noncash impairment charges of $59.0 million on goodwill and certain intangible assets.