Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - Energy XXI Ltd | v230374_ex31-1.htm |
| EX-99.1 - EXHIBIT 99.1 - Energy XXI Ltd | v230374_ex99x1.htm |
| EX-31.2 - EXHIBIT 31.2 - Energy XXI Ltd | v230374_ex31-2.htm |
| EX-23.2 - EXHIBIT 23.2 - Energy XXI Ltd | v230374_ex23-2.htm |
| EX-32.1 - EXHIBIT 32.1 - Energy XXI Ltd | v230374_ex32-1.htm |
| EX-21.1 - EXHIBIT 21.1 - Energy XXI Ltd | v230374_ex21-1.htm |
| 10-K - FORM 10-K - Energy XXI Ltd | v230374_10k.htm |
| EX-23.1 - EXHIBIT 23.1 - Energy XXI Ltd | v230374_ex23-1.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
CONSOLIDATED ENERGY XXI GULF COAST, INC.
For purposes of computing the ratio of earnings (loss) to fixed charges, earnings (loss) is defined as pre-tax income (loss) plus fixed charges. Fixed charges consist of interest expense and amortization of deferred financing fees.
For the year ended June 30, 2009 earnings were inadequate to cover fixed charges and therefore has not been presented for this period. The coverage deficiency necessary for the ratio of earnings to fixed charges to equal 1.00x (one-to-one coverage) was $604.2 million.
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Year Ended June 30,
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2011
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2010
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2009
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2008
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2007
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(Dollars in Thousands) (Unaudited)
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Earnings (Loss):
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Pre-Tax Income (Loss)
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$ | 85,020 | $ | 42,449 | $ | (604,213 | ) | $ | 46,233 | $ | 42,313 | |||||||||
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Fixed Charges
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105,673 | 92,838 | 94,019 | 101,655 | 60,303 | |||||||||||||||
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Total Earnings (Loss)
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190,693 | 135,287 | (510,194 | ) | 147,888 | 102,616 | ||||||||||||||
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Fixed Charges:
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Interest expense
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95,602 | 85,032 | 88,774 | 97,469 | 53,258 | |||||||||||||||
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Deferred financing fees
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10,071 | 7,806 | 5,245 | 4,186 | 7,045 | |||||||||||||||
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Total Fixed Charges
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105,673 | 92,838 | 94,019 | 101,655 | 60,303 | |||||||||||||||
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Ratio of Earnings to Fixed Charges
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1.80 | 1.46 | — | 1.45 | 1.70 | |||||||||||||||