EX-12.2 3 h65734meexv12w2.htm EX-12.2 exv12w2
EXHIBIT 12.2
DENBURY RESOURCES INC.
COMPUTATION OF PROFORMA RATIO OF EARNINGS TO FIXED CHARGES
                 
    Year ended     Nine months ended  
    December 30, 2007     September 30, 2008  
(amounts in thousands)                
Earnings:
                
Pretax income from continuing operations (1)
   $ 384,436     $ 549,598  
Plus: Equity in (earnings) loss of affiliates
     1,110       (3,796 )
Plus: Distributions of equity investee
     1,427       4,853  
Plus: Amortization of capitalized interest
     169       89  
Plus: Fixed charges (below)
     64,895       51,542  
Less: Interest capitalized
     (20,385 )     (19,524 )
 
            
Earnings
   $ 431,652     $ 582,762  
 
            
Fixed Charges:
                
Interest expense
   $ 30,830     $ 23,988  
Capitalized interest
     20,385       19,524  
Interest component of rent expense
     4,702       4,347  
Imputed preferred dividend
     —       —  
Preferred dividend tax effect
     —       —  
Adjustments:
                
Estimated net increase in interest expense from refinancing
     8,978       3,683  
 
            
Fixed charges
   $ 64,895     $ 51,542  
 
            
Ratio of earnings to fixed charges
     6.7       11.3  
 
            
(1)   Adjusted for estimated net increase in interest expense from refinancing.