EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

RATIO OF EARNINGS TO FIXED CHARGES

 

     Successor
Constellation Energy
Partners LLC		          Predecessor
Everlast
Energy LLC		  
     2009     2008    2007    2006    For the
period from
February 7,
2005
(inception) to
December 31,
2005 		         For the
period from
January 1,
2005
(inception) to
June 12,
2005		  

Net Income (loss)(1)

    $ (9,023 )    $ 7,652    $ 14,241    $ 15,989    $ 11,941         (10,636 ) 

Fixed Charges:

                      

Total Fixed Charges(2)

      12,127        12,256      6,930      221      3         2,437   
                                               

Total

      12,127        12,256      6,930      221      3         2,437   
                                               

Earnings (loss)(3)

    $ 3,104      $ 19,908    $ 21,171    $ 16,210    $ 11,944         (8,199 ) 
                                               

Ratio of earnings (loss) to fixed charges

      —   (4)      1.62      3.05      73.35      3,981.33         —   (5) 
                                               

 

(1) Net income is the equivalent of income from continuing operations, as CEP has no discontinued operations.
(2) Fixed charges equal the sum of the following: interest expensed and capitalized; amortized premiums, discounts, and capitalized expenses related to indebtedness; and an estimate of the interest within rent expense.
(3) Earnings are deemed to consist of income from continuing operations and fixed charges.
(4) Earnings were insufficient to cover fixed charges for the year ended December 31, 2009 by approximately $9.0 million.
(5) Earnings were insufficient to cover fixed charges for the period from January 1, 2005 (inception) to June 12, 2005 by approximately $10.6 million.