Exhibit 12.1
ANTERO RESOURCES CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
2013 |
|
|
2014 |
|
|
2015 |
|
|
2016 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax income (loss) from continuing operations |
|
$ |
346,505 |
|
|
$ |
162,023 |
|
|
$ |
1,117,049 |
|
|
$ |
1,517,254 |
|
|
$ |
(1,345,192) |
|
|
Fixed Charges |
|
|
97,877 |
|
|
|
137,343 |
|
|
|
163,458 |
|
|
|
231,551 |
|
|
|
235,544 |
|
|
Total adjusted earnings available for payment of fixed charges |
|
$ |
444,382 |
|
|
$ |
299,366 |
|
|
$ |
1,280,507 |
|
|
$ |
1,748,805 |
|
|
$ |
(1,109,648) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, including amortization of debt-related expenses |
|
$ |
97,510 |
|
|
$ |
136,617 |
|
|
$ |
160,051 |
|
|
$ |
228,568 |
|
|
$ |
232,455 |
|
|
Rental expense representative of interest factor |
|
|
367 |
|
|
|
726 |
|
|
|
3,407 |
|
|
|
2,983 |
|
|
|
3,089 |
|
|
Total fixed charges |
|
$ |
97,877 |
|
|
$ |
137,343 |
|
|
$ |
163,458 |
|
|
$ |
231,551 |
|
|
$ |
235,544 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
|
4.54 |
X |
|
|
2.18 |
X |
|
|
7.83 |
X |
|
|
7.55 |
X |
|
|
NA |
(1) |
|
(1) |
Earnings are deficient to cover fixed charges by $1,345,192. |