EX-12.1 3 d07317a1exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 ENCORE ACQUISITION COMPANY RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIOS)
SIX MONTHS ENDED YEAR ENDED DECEMBER 31, JUNE 30, ------------------------------------------- 2003 2002 2001 2000 1999 ------- ------- ------- ------- ------- Pretax earnings ................... $49,932 $60,581 $33,396 $12,684 $ 4,264 Adjustments: Add fixed charges: Interest expense .............. 8,210 12,306 6,041 10,490 4,037 Interest capitalized .......... -- -- -- -- -- Rental expense attributable to interest .................... 198 314 236 118 60 ------- ------- ------- ------- ------- Total fixed charges ............ 8,408 12,620 6,277 10,608 4,097 Deduct: Interest capitalized .......... -- -- -- -- -- ------- ------- ------- ------- ------- Total deductions ................ -- -- -- -- -- Adjusted earnings ................ $58,340 $73,201 $39,673 $23,292 $ 8,361 Ratio of earnings to fixed charges 6.9 5.8 6.3 2.2 2.0
Encore Acquisition Company began operations on April 22, 1998. We did not present a ratio of earnings to fixed charges for the period from inception to December 31, 1998 because earnings were insufficient to cover fixed charges by $1,010,000.