Attached files
| file | filename |
|---|---|
| 10-Q - QUARTERLY REPORT PURSUANT TO SECTIONS 13 OR 15(D) - MAGNUM HUNTER RESOURCES CORP | a12-9541_110q.htm |
| EX-2.2 - EX-2.2 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex2d2.htm |
| EX-32.1 - EX-32.1 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex32d1.htm |
| EX-31.1 - EX-31.1 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex31d1.htm |
| EX-31.2 - EX-31.2 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex31d2.htm |
| EX-10.5 - EX-10.5 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex10d5.htm |
| EX-10.4 - EX-10.4 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex10d4.htm |
| EX-2.2.1 - EX-2.2.1 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex2d2d1.htm |
| EX-10.5.1 - EX-10.5.1 - MAGNUM HUNTER RESOURCES CORP | a12-9541_1ex10d5d1.htm |
Exhibit 12.1
Ratio of Fixed Charges to Earnings
|
|
|
Three Months Ended |
|
Years Ended December 31, |
| ||||||||||||||
|
|
|
March 31, 2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
| ||||||
|
|
|
(in thousands) |
|
(in thousands) |
| ||||||||||||||
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Interest Charges |
|
$ |
5,384 |
|
$ |
12,004 |
|
$ |
3,593 |
|
$ |
2,691 |
|
$ |
2,361 |
|
$ |
722 |
|
|
Series A Convertible Preferred Stock, cumulative, dividend rate 10% |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
735 |
|
$ |
511 |
|
|
Series A Convertible Preferred Units of Eureka Hunter Holdings, LLC, cumulative distribution rate of 8.0% |
|
$ |
148 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Series B Convertible Preferred Stock, cumulative, dividend rate 2.75% |
|
$ |
— |
|
$ |
— |
|
$ |
131 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Series C Cumulative Perpetual Preferred Stock, cumulative dividend rate 10.25% |
|
$ |
2,562 |
|
$ |
3,759 |
|
$ |
2,336 |
|
$ |
26 |
|
$ |
— |
|
$ |
— |
|
|
Series D Cumulative Preferred Stock, cumulative dividend rate 8.0% |
|
$ |
1,884 |
|
$ |
10,248 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Total Fixed Charges |
|
$ |
9,978 |
|
$ |
26,011 |
|
$ |
6,060 |
|
$ |
2,717 |
|
$ |
3,096 |
|
$ |
1,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Loss Before Taxes and Non-controlling Interest |
|
$ |
(17,973 |
) |
$ |
(77,108 |
) |
$ |
(22,128 |
) |
$ |
(15,633 |
) |
$ |
(11,109 |
) |
$ |
(5,916 |
) |
|
Fixed Charges (Calculated Above) |
|
$ |
9,978 |
|
$ |
26,011 |
|
$ |
6,060 |
|
$ |
2,717 |
|
$ |
3,096 |
|
$ |
1,233 |
|
|
Earnings |
|
$ |
(7,995 |
) |
$ |
(51,097 |
) |
$ |
(16,068 |
) |
$ |
(12,916 |
) |
$ |
(8,013 |
) |
$ |
(4,683 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Ratio of Earnings to Fixed Charges with Preferred Dividend (1) |
|
— |
(7) |
— |
(6) |
— |
(5) |
— |
(4) |
— |
(3) |
— |
(2) | ||||||
|
(1) |
For purposes of determining the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes and non-controlling interest, plus fixed charges and amortization of |
|
|
|
|
|
capitalized interest, less capitalized interest. Fixed charges consist of interest incurred (whether expensed or capitalized), amortization of deferred financing costs and an estimate of the interest within rental expense. |
|
|
|
|
|
All reported periods of the calculation of the ratio of earnings to fixed charges exclude discontinued operations. |
|
|
|
|
(2) |
Earnings were inadequate to cover fixed charges for the year ended December 31, 2007 by $5.9 million |
|
|
|
|
(3) |
Earnings were inadequate to cover fixed charges for the year ended December 31, 2008 by $11.1 million |
|
|
|
|
(4) |
Earnings were inadequate to cover fixed charges for the year ended December 31, 2009 by $15.6 million |
|
|
|
|
(5) |
Earnings were inadequate to cover fixed charges for the year ended December 31, 2010 by $22.1 million |
|
|
|
|
(6) |
Earnings were inadequate to cover fixed charges for the year ended December 31, 2011 by $77.1 million |
|
|
|
|
(7) |
Earnings were inadequate to cover fixed charges for the three months ended March 31, 2012 by $18.0 million |