SM Energy Co - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 25, 2015

Attached files

file filename
10-K - 10-K - SM Energy Cosm-20141231x10k.htm
EX-23.3 - EXHIBIT 23.3 - SM Energy Coexhibit233-consentofindepe.htm
EX-10.41 - EXHIBIT 10.41 - SM Energy Coexhibit1042-summaryofcompe.htm
EX-99.1 - EXHIBIT 99.1 - SM Energy Coexhibit991-ryderscottlette.htm
EX-23.1 - EXHIBIT 23.1 - SM Energy Coexhibit231-consentofpublic.htm
EX-31.1 - EXHIBIT 31.1 - SM Energy Coexhibit311-certificationjo.htm
EX-23.2 - EXHIBIT 23.2 - SM Energy Coexhibit232-consentofpublic.htm
EX-21.1 - EXHIBIT 21.1 - SM Energy Coexhibit211-subsidiaries123.htm
EX-31.2 - EXHIBIT 31.2 - SM Energy Coexhibit312-certificationwp.htm
EXCEL - IDEA: XBRL DOCUMENT - SM Energy CoFinancial_Report.xls
EX-32.1 - EXHIBIT 32.1 - SM Energy Coexhibit321-906ceritificati.htm


EXHIBIT 12.1

SM Energy Company
Ratio of Earnings to Fixed Charges

 
Year Ended December 31,
 
2014
2013
2012
2011
2010
 
(in thousands, except ratios)
 
 
 
 
 
 
Pretax income from continuing operations
$
1,064,699

$
278,611

$
(83,517
)
$
339,001

$
314,896

 
 
 
 
 
 
Add: Fixed charges
117,147

102,758

77,841

58,030

29,558

Add: Amortization of capitalized interest
11,448

11,784

9,095

5,107

2,991

Less: Capitalized interest
(16,165
)
(10,952
)
(12,135
)
(10,785
)
(4,337
)
Earnings before fixed charges
$
1,177,129

$
382,201

$
(8,716
)
$
391,353

$
343,108

 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest expense (1)
$
98,554

$
89,711

$
63,720

$
45,849

$
24,196

Capitalized interest
16,165

10,952

12,135

10,785

4,337

Interest expense component of rent (2)
2,428

2,095

1,986

1,396

1,025

Total fixed charges
$
117,147

$
102,758

$
77,841

$
58,030

$
29,558

 

 
 
 
 
Ratio of earnings to fixed charges
10.0

3.7

—

6.7

11.6

Insufficient coverage
$
—

$
—

$
86,557

$
—

$
—


(1) Includes amortization of discount and deferred financing costs.
(2) Represents a reasonable approximation of the rental factor.






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