EX-12.1 4 a2220724zex-12_1.htm EX-12.1
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Exhibit 12.1

Legacy Reserves LP
Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)

 
   Three Months
Ended
March 31, 		  Years Ended December 31,  
 
   2014   2013   2012   2011   2010   2009  

Income (loss) before income taxes

   $ 840   $ (34,623 ) $ 69,733   $ 73,091   $ 11,346   $ (92,277 )

Equity in (income) loss of equity method investee

     8     (559 )   (111 )   (138 )   (97 )   (31 )

Distributed income of equity method investee

     204     861     —     —     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from operations before income taxes

   $ 1,052   $ (34,321 ) $ 69,622   $ 72,953   $ 11,249   $ (92,308 )
                           
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Fixed Charges

                                      

Interest expensed

   $ 13,638   $ 51,097   $ 21,140   $ 18,981   $ 16,415   $ 15,366  

Amortization of debt issuance costs

     1,012     3,780     1,626     1,528     2,023     1,646  

Estimated portion of rental expense attributable to interest

     59     231     148     134     112     59  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

   $ 14,709   $ 55,108   $ 22,914   $ 20,643   $ 18,550   $ 17,071  
                           
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Earnings available for fixed charges

   $ 15,761   $ 20,787   $ 92,536   $ 93,596   $ 29,799   $ (75,237 )
                           
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Ratio of earnings to fixed charges

     1.07x     (1 )   4.04x     4.53x     1.61x     (2 )
                           
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​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
(1)
Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $34.321 million

(2)
Earnings were insufficient to cover fixed charges, and fixed charges exceeded earnings by approximately $92.308 million



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Legacy Reserves LP Computation of Ratios of Earnings to Fixed Charges (in thousands, except ratios)