Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - GRAN TIERRA ENERGY INC. | gte-20160930xex321.htm |
| EX-31.2 - EXHIBIT 31.2 - GRAN TIERRA ENERGY INC. | gte-20160930xex312.htm |
| EX-31.1 - EXHIBIT 31.1 - GRAN TIERRA ENERGY INC. | gte-20160930xex311.htm |
| 10-Q - 10-Q - GRAN TIERRA ENERGY INC. | gte-20160930x10q.htm |
Exhibit 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Our earnings were insufficient to cover fixed charges for the nine months ended September 30, 2016, and the years ended December 31, 2015 and 2014. The following table sets forth our ratio of earnings to fixed charges for the years ended December 31, 2013, 2012 and 2011, and our deficiency of earnings available to cover fixed charges for the nine months ended September 30, 2016, and the years ended December 31, 2015 and 2014.
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||
Fixed charges | ||||||||||||||||||
Contractual interest and other financing expenses | $ | 5,029 | $ | — | $ | — | $ | — | $ | — | $ | 1,604 | ||||||
Amortization of debt issuance costs | 2,813 | — | — | — | — | — | ||||||||||||
Interest portion of rental expense | 44 | 31 | 18 | 21 | 27 | 31 | ||||||||||||
Total fixed charges | $ | 7,886 | $ | 31 | $ | 18 | $ | 21 | $ | 27 | $ | 1,635 | ||||||
(Loss) income from continuing operations before tax | $ | (492,732 | ) | $ | (368,088 | ) | $ | (17,134 | ) | $ | 309,284 | $ | 196,349 | $ | 266,875 | |||
Fixed charges per above | 7,886 | 31 | 18 | 21 | 27 | 1,635 | ||||||||||||
$ | (484,846 | ) | $ | (368,057 | ) | $ | (17,116 | ) | $ | 309,305 | $ | 196,376 | $ | 268,510 | ||||
Ratio of earnings to fixed charges | 14,729 | 7,273 | 164 | |||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (484,846 | ) | $ | (368,057 | ) | $ | (17,116 | ) | |||||||||