EX-12.1 5 diamondbackex121-11x_xx16.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

RATIO OF EARNINGS (DEFICIT) TO FIXED CHARGES
The following table sets forth our ratios of earnings (deficit) to fixed charges for the periods indicated. We have calculated the ratio of earnings (deficit) to fixed charges by dividing the sum of income from continuing operations plus fixed charges by fixed charges. Fixed charges consist of interest expense. You should read these ratios in connection with our consolidated financial statements incorporated by reference in the prospectus. The financial measures used in this table may not be comparable to similarly titled financial measures used in our various agreements, including our revolving credit facility and the indenture that governs our outstanding senior notes.
 
 
For the Nine Months Ended September 30, 2016
 
Year Ended December 31,  
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
(in thousands)
EARNINGS
 
 
 
 
 
 
 
 
 
Income from continuing operations
$
(155,696
)
 
$
(740,269
)
 
$
212,670

 
$
95,194

 
$
17,307

 
$
15,147

Interest expense
30,266

 
41,510

 
34,514

 
8,059

 
3,610

 
2,528

Income before fixed charges
$
(125,430
)
 
$
(698,759
)
 
$
247,184

 
$
103,253

 
$
20,917

 
$
17,675

 
 

 
 

 
 

 
 

 
 

 
 

FIXED CHARGES
 

 
 

 
 

 
 

 
 

 
 

Interest expense
$
30,266

 
$
41,510

 
$
34,514

 
$
8,059

 
$
3,610

 
$
2,528

Total fixed charges
$
30,266

 
$
41,510

 
$
34,514

 
$
8,059

 
$
3,610

 
$
2,528

 
 

 
 

 
 

 
 

 
 

 
 

Earnings/fixed charge coverage ratio
(4.1
)
 
(16.8)

 
7.2

 
12.8

 
5.8

 
6.9