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EXCEL - IDEA: XBRL DOCUMENT - Resolute Energy CorpFinancial_Report.xls
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EX-23.1 - EX-23.1 - Resolute Energy Corpren-ex231_2014123110.htm

Exhibit 12.1

Computation of Ratio of Earning to Fixed Charges

Resolute Energy Corporation

Ratio of Earning to Fixed Charges

(in thousands)

 

 

 

 

Year Ended December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

 

2010

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

 

(25,990

)

 

 

(178,485

)

 

 

29,857

 

 

 

48,355

 

 

 

8,574

 

Fixed charges, excluding capitalized interest

 

 

35,845

 

 

 

33,499

 

 

 

18,758

 

 

 

6,012

 

 

 

6,905

 

Earnings

 

 

9,855

 

 

 

(144,986

)

 

 

48,615

 

 

 

54,367

 

 

 

15,479

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including capitalized interest

 

 

46,429

 

 

 

47,832

 

 

 

22,094

 

 

 

5,145

 

 

 

5,317

 

Estimate of interest within rental expense

 

 

4,356

 

 

 

4,198

 

 

 

3,235

 

 

 

2,167

 

 

 

2,047

 

Fixed charges

 

 

50,785

 

 

 

52,030

 

 

 

25,329

 

 

 

7,312

 

 

 

7,364

 

Ratio of earnings to fixed charges

 

(a)

 

 

(a)

 

 

 

1.9

 

 

 

7.4

 

 

 

2.1

 

 

 

 

(a)

Ratio is less than one; earnings are inadequate to cover fixed charges. The dollar amount of the coverage deficiency was $40.9 million and $197.0 million for the years ended December 31, 2014 and December 31, 2013, respectively.