EX-12.1 3 d44443exv12w1.htm STATEMENT OF COMPUTATION OF RATIO OF EARNIGNS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
PIONEER NATURAL RESOURCES COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
                                         
    For the year ended December 31,  
    2006     2005     2004     2003     2002  
Income from continuing operations before income taxes and cumulative effect of change in accounting principle
   $ 308,988     $ 350,466     $ 197,511     $ 143,166     $ 39,540  
Rental expense attributable to interest
     2,007       1,865       1,261       326       281  
Interest expense
     107,032       126,086       102,017       91,264       95,729  
 
                              
Earnings
   $ 418,027     $ 478,417     $ 300,789     $ 234,756     $ 135,550  
 
                              
 
                                        
Rental expense attributable to interest
   $ 2,007     $ 1,865     $ 1,261     $ 326     $ 281  
Interest expense
     107,032       126,086       102,017       91,264       95,729  
Capitalized interest
     12,166       1,089       2,016       5,448       12,251  
 
                              
Fixed charges
   $ 121,205     $ 129,040     $ 105,294     $ 97,038     $ 108,261  
 
                              
Ratio of earnings to fixed charges
     3.45       3.71       2.86       2.42       1.25