QEP RESOURCES, INC. - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 22, 2017

Attached files

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EX-99.1 - EXHIBIT 99.1 - QEP RESOURCES, INC.qep-20161231xex991.htm
EX-32.1 - EXHIBIT 32.1 - QEP RESOURCES, INC.qep-20161231xex321.htm
EX-31.2 - EXHIBIT 31.2 - QEP RESOURCES, INC.qep-20161231xex312.htm
EX-31.1 - EXHIBIT 31.1 - QEP RESOURCES, INC.qep-20161231xex311.htm
EX-24 - EXHIBIT 24 - QEP RESOURCES, INC.qep-20161231xex24.htm
EX-23.3 - EXHIBIT 23.3 - QEP RESOURCES, INC.qep-20161231xex233.htm
EX-23.2 - EXHIBIT 23.2 - QEP RESOURCES, INC.qep-20161231xex232.htm
EX-23.1 - EXHIBIT 23.1 - QEP RESOURCES, INC.qep-20161231xex231.htm
EX-21.1 - EXHIBIT 21.1 - QEP RESOURCES, INC.qep-20161231xex211.htm
EX-10.33 - EXHIBIT 10.33 - QEP RESOURCES, INC.qep-20161231xex1033.htm
10-K - 10-K - QEP RESOURCES, INC.qep-20161231x10k.htm


Exhibit 12.1

QEP Resources, Inc.
Ratio of Earnings to Fixed Charges

 
Year Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings
(in millions)
Income from continuing operations before income taxes and adjustment for income or loss from equity investees
$
(1,953.2
)
 
$
(243.0
)
 
$
(642.0
)
 
$
112.2

 
$
0.5

Add (deduct):
 
 
 
 
 
 
 
 
 
Fixed charges
146.2

 
148.3

 
175.6

 
167.8

 
128.7

Distributed income from equity investees
—

 
0.1

 
0.3

 
0.2

 
0.1

Capitalized interest
—

 
—

 
—

 
(2.0
)
 
(3.4
)
Total earnings
$
(1,807.0
)
 
$
(94.6
)
 
$
(466.1
)
 
$
278.2

 
$
125.9

Fixed Charges
 
 
 
 
 
 
 
 
 
Interest expense
$
143.2

 
$
145.6

 
$
172.9

 
$
163.3

 
$
122.9

Capitalized interest
—

 
—

 
—

 
2.0

 
3.4

Estimate of the interest within rental expense
3.0

 
2.7

 
2.7

 
2.5

 
2.4

Total Fixed Charges
$
146.2

 
$
148.3

 
$
175.6

 
$
167.8

 
$
128.7

Ratio of Earnings to Fixed Charges
—

(1 
) 
—

(2 
) 
—

(3 
) 
1.7

 
1.0

____________________________
(1) 
Due to a loss for the year ended December 31, 2016, the ratio coverage was less than 1:1. QEP required additional earnings of $1,953.2 million for the year ended December 31, 2016, to achieve a ratio of 1:1.
(2) 
Due to a loss for the year ended December 31, 2015, the ratio coverage was less than 1:1. QEP required additional earnings of $243.0 million for the year ended December 31, 2015, to achieve a ratio of 1:1.
(3) 
Due to a loss for the year ended December 31, 2014, the ratio coverage was less than 1:1. QEP required additional earnings of $642.0 million for the year ended December 31, 2014, to achieve a ratio of 1:1.


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