Exhibit 12.1
DIAMONDBACK ENERGY, INC.
COMPUTATION OF RATIO OF EARNINGS (DEFICIT) TO FIXED CHARGES
Year Ended December 31, | |||||||||||||||||||
2018 | 2017 | 2016(1) | 2015(1) | 2014 | |||||||||||||||
(in thousands) | |||||||||||||||||||
EARNINGS | |||||||||||||||||||
Income (loss) from continuing operations | $ | 1,010,788 | $ | 605,020 | $ | (68,617 | ) | $ | (740,269 | ) | $ | 212,670 | |||||||
Interest expense, net | 87,276 | 40,554 | 40,684 | 41,510 | 34,514 | ||||||||||||||
Income (loss) before fixed charges | $ | 1,098,064 | $ | 645,574 | $ | (27,933 | ) | $ | (698,759 | ) | $ | 247,184 | |||||||
FIXED CHARGES | |||||||||||||||||||
Interest expense, net | $ | 87,276 | $ | 40,554 | $ | 40,684 | $ | 41,510 | $ | 34,514 | |||||||||
Total fixed charges | $ | 87,276 | $ | 40,554 | $ | 40,684 | $ | 41,510 | $ | 34,514 | |||||||||
Earnings/fixed charge coverage ratio | 12.6 | 15.9 | (0.7) | (16.8) | 7.2 |
(1) Earnings for the years ended December 31, 2016 and December 31, 2015 were insufficient to cover fixed charges by $68.6 million and $740.3 million, respectively. Ratios for the years ended December 31, 2016 and December 31, 2015 include the effects of impairments on oil and gas properties of $245.5 million and $814.8 million, respectively. Excluding the impact of the impairments of oil and gas properties, the earnings/fixed charge coverage ratio for the years ended December 31, 2016 and December 31, 2015 would have been 5.3 and 2.8, respectively.