EX-12 5 dex12.htm CALCULATION OF PROFORMA RATIO OF EARNINGS TO FIXED CHARGES Calculation of proforma ratio of earnings to fixed charges

Exhibit 12

Unit Corporation

Proforma Computation of Ratio of Earnings to Fixed Charges

 

(dollars in thousands)

   Three Months
Ended

March  31, 2011
     Twelve Months
Ended
December 31,
2010
 

Income (loss) from continuing operations before income taxes

   $ 65,607       $ 231,731   

Interest expense

     886         5,440   

Amortization of capitalized interest

     432         1,623   
                 

Earnings as defined

   $ 66,925       $ 238,794   

Fixed charges (1):

     

Interest expense

   $ 886       $ 5,440   

Capitalized interest

     3,255         11,123   
                 

Total fixed charges

   $ 4,141       $ 16,563   

Ratio of earnings to fixed charges

     16.2x         14.4x   
                 

 

(1) Fixed charges are determined as defined in instructions for Item 503 of Regulation S-K.