Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - CHESAPEAKE ENERGY CORP | chk-ex_322x20180630x10q.htm |
| EX-32.1 - EXHIBIT 32.1 - CHESAPEAKE ENERGY CORP | chk-ex_321x20180630x10q.htm |
| EX-31.2 - EXHIBIT 31.2 - CHESAPEAKE ENERGY CORP | chk-ex_312x20180630x10q.htm |
| EX-31.1 - EXHIBIT 31.1 - CHESAPEAKE ENERGY CORP | chk-ex_311x20180630x10q.htm |
| EX-10.1 - EXHIBIT 10.1 - CHESAPEAKE ENERGY CORP | chk-ex_101x20180630x10q.htm |
| 10-Q - 10-Q - CHESAPEAKE ENERGY CORP | chk-20180630_10q.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, | Six Months Ended June 30, | |||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Income (loss) before income taxes and cumulative effect of accounting change | $ | 1,442 | $ | 3,200 | $ | (19,098 | ) | $ | (4,589 | ) | $ | 954 | $ | 269 | ||||||||||
Interest expense(a) | 207 | 172 | 322 | 275 | 421 | 240 | ||||||||||||||||||
Loss on investment in equity investees in excess of distributed earnings | 219 | 75 | 96 | 8 | — | — | ||||||||||||||||||
Amortization of capitalized interest | 440 | 438 | 483 | 729 | 487 | 211 | ||||||||||||||||||
Loan cost amortization | 37 | 32 | 31 | 24 | 25 | 12 | ||||||||||||||||||
Less: (Income) loss attributable to noncontrolling interests | 68 | 9 | (4 | ) | (2 | ) | ||||||||||||||||||
Earnings (losses) | $ | 2,345 | $ | 3,917 | $ | (18,098 | ) | $ | (3,544 | ) | $ | 1,883 | $ | 730 | ||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest Expense | $ | 207 | $ | 172 | $ | 322 | $ | 275 | $ | 421 | $ | 240 | ||||||||||||
Capitalized interest | 815 | 604 | 410 | 242 | 193 | 86 | ||||||||||||||||||
Loan cost amortization | 37 | 32 | 31 | 24 | 25 | 12 | ||||||||||||||||||
Fixed Charges | $ | 1,059 | $ | 808 | $ | 763 | $ | 541 | $ | 639 | $ | 338 | ||||||||||||
PREFERRED STOCK DIVIDENDS: | ||||||||||||||||||||||||
Preferred dividend requirements | $ | 171 | $ | 171 | $ | 171 | $ | 97 | $ | 84 | $ | 46 | ||||||||||||
Ratio of income (loss) before provision for taxes to net income (loss)(b) | 1.61 | 1.56 | 1.30 | 1.04 | 1.00 | 0.97 | ||||||||||||||||||
Preferred Dividends | $ | 275 | $ | 266 | $ | 222 | $ | 101 | $ | 84 | $ | 45 | ||||||||||||
COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS | $ | 1,334 | $ | 1,074 | $ | 985 | $ | 642 | $ | 723 | $ | 383 | ||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 2.2 | 4.8 | — | — | 2.9 | 2.2 | ||||||||||||||||||
INSUFFICIENT COVERAGE | $ | — | $ | — | $ | 18,861 | $ | 4,085 | $ | — | $ | — | ||||||||||||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS | 1.8 | 3.6 | — | — | 2.6 | 1.9 | ||||||||||||||||||
INSUFFICIENT COVERAGE | $ | — | $ | — | $ | 19,083 | $ | 4,186 | $ | — | $ | — | ||||||||||||
___________________________________________
(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. |