EX-12.1 5 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

 

XTO ENERGY INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

(in thousands, except ratios)    Year Ended December 31

     2003

   2002

   2001

   2000

   1999

Income before income tax, minority interest and cumulative effect of accounting change

   $ 444,510    $ 286,749    $ 455,357    $ 176,432    $ 70,605

Interest expense

     64,321      54,391      56,317      81,759      70,828

Interest portion of rentals

     8,908      2,575      3,919      5,776      4,698
    

  

  

  

  

Earnings (loss) before provision for taxes and fixed charges

   $ 517,739    $ 343,715    $ 515,593    $ 263,967    $ 146,131
    

  

  

  

  

Interest expense

   $ 64,321    $ 54,391    $ 56,317    $ 81,759    $ 70,828

Capitalized interest

     2,240      4,330      6,649      3,488      1,353

Interest portion of rentals

     8,908      2,575      3,919      5,776      4,698

Preferred stock dividends

     —        —        —        1,758      1,779
    

  

  

  

  

Total Fixed Charges

   $ 75,469    $ 61,296    $ 66,885    $ 92,781    $ 78,658
    

  

  

  

  

Ratio of Earnings to Fixed Charges

     6.9      5.6      7.7      2.8      1.9