CHESAPEAKE ENERGY CORP - FORM 10-K - EX-12 - RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES - March 3, 2017

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EX-99 - REPORT OF SOFTWARE INTEGRATED SOLUTIONS DIVISION OF SCHLUMBERGER TECHNOLOGY CORP - CHESAPEAKE ENERGY CORPchk-ex_99x20161231x10k.htm
EX-32.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 906 - CHESAPEAKE ENERGY CORPchk-ex_322x20161231x10k.htm
EX-32.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 906 - CHESAPEAKE ENERGY CORPchk-ex_321x20161231x10k.htm
EX-31.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 302 - CHESAPEAKE ENERGY CORPchk-ex_312x20161231x10k.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 302 - CHESAPEAKE ENERGY CORPchk-ex_311x20161231x10k.htm
EX-23.2 - CONSENT OF SOFTWARE INTEGRATED SOLUTIONS DIVISION OF SCHLUMBERGER TECHNOLOGY COR - CHESAPEAKE ENERGY CORPchk-ex_232x20161231x10k.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERD PUBLIC ACCOUNTING FIRM - CHESAPEAKE ENERGY CORPchk-ex_231x20161231x10k.htm
EX-21 - SUBSIDIARY LISTING - CHESAPEAKE ENERGY CORPchk-ex_21x20161231x10k.htm
EX-10.3.2 - AMENDMENT TO CHESAPEAKE DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS - CHESAPEAKE ENERGY CORPchk-ex_1032x20161231x10k.htm
10-K - 10-K - CHESAPEAKE ENERGY CORPchk-20161231_10k.htm

 
EXHIBIT 12


CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS
 
 
 
Years Ended December 31,
 
 
2012
 
2013
 
2014
 
2015
 
2016
EARNINGS:
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes and cumulative effect of accounting change
 
$
(974
)
 
$
1,442

 
$
3,200

 
$
(19,098
)
 
$
(4,589
)
Interest expense(a)
 
142

 
207

 
172

 
322

 
275

(Gain)/loss on investment in equity investees in excess of distributed earnings
 
108

 
219

 
75

 
96

 
8

Amortization of capitalized interest
 
402

 
440

 
438

 
483

 
729

Loan cost amortization
 
43

 
37

 
32

 
31

 
24

Earnings
 
$
(279
)
 
$
2,345

 
$
3,917

 
$
(18,166
)
 
$
(3,553
)
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
142

 
$
207

 
$
172

 
$
322

 
$
275

Capitalized interest
 
976

 
815

 
604

 
410

 
242

Loan cost amortization
 
43

 
37

 
32

 
31

 
24

Fixed Charges
 
$
1,161

 
$
1,059

 
$
808

 
$
763

 
$
541

PREFERRED STOCK DIVIDENDS:
 
 
 
 
 
 
 
 
 
 
Preferred dividend requirements
 
$
171

 
$
171

 
$
171

 
$
171

 
$
97

Ratio of income (loss) before provision for taxes to net income (loss)(b)
 
1.64

 
1.61

 
1.56

 
1.30

 
1.04

Preferred Dividends
 
$
280

 
$
275

 
$
266

 
$
222

 
$
101

COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
 
$
1,441

 
$
1,334

 
$
1,074

 
$
985

 
$
642

RATIO OF EARNINGS TO FIXED CHARGES
 
(0.2
)
 
2.2

 
4.8

 
(23.8
)
 
(6.6
)
INSUFFICIENT COVERAGE
 
$
1,440

 
$
—

 
$
—

 
$
18,929

 
$
4,094

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
 
(0.2
)
 
1.8

 
3.6

 
(18.4
)
 
(5.5
)
INSUFFICIENT COVERAGE
 
$
1,720

 
$
—

 
$
—

 
$
19,151

 
$
4,195

___________________________________________ 
(a)
Excludes the effect of unrealized gains or losses on interest rate derivatives and includes amortization of bond discount.
(b)
Amounts of income (loss) before provision for taxes and of net income (loss) exclude the cumulative effect of accounting change.



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