EX-12.1 2 diamondbackex121-3x22x19.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
DIAMONDBACK ENERGY, INC.
COMPUTATION OF RATIO OF EARNINGS (DEFICIT) TO FIXED CHARGES
 
 
Year Ended December 31,
 
2018
 
2017
 
2016(1)
 
2015(1)
 
2014
 
(in thousands)
EARNINGS
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
1,010,788

 
$
605,020

 
$
(68,617
)
 
$
(740,269
)
 
$
212,670

Interest expense, net
87,276

 
40,554

 
40,684

 
41,510

 
34,514

 
 
 
 
 
 
 
 
 
 
Income (loss) before fixed charges
$
1,098,064

 
$
645,574

 
$
(27,933
)
 
$
(698,759
)
 
$
247,184

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
 
 
 
 
 
 
 
 
Interest expense, net
$
87,276

 
$
40,554

 
$
40,684

 
$
41,510

 
$
34,514

 
 
 
 
 
 
 
 
 
 
Total fixed charges
$
87,276

 
$
40,554

 
$
40,684

 
$
41,510

 
$
34,514

 
 
 
 
 
 
 
 
 
 
Earnings/fixed charge coverage ratio
12.6

 
15.9

 
(0.7)

 
(16.8)

 
7.2

(1) Earnings for the years ended December 31, 2016 and December 31, 2015 were insufficient to cover fixed charges by $68.6 million and $740.3 million, respectively. Ratios for the years ended December 31, 2016 and December 31, 2015 include the effects of impairments on oil and gas properties of $245.5 million and $814.8 million, respectively. Excluding the impact of the impairments of oil and gas properties, the earnings/fixed charge coverage ratio for the years ended December 31, 2016 and December 31, 2015 would have been 5.3 and 2.8, respectively.