Exhibit 12.1

 

ANTERO RESOURCES CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

2014

 

 

2015

 

 

2016

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss) from continuing operations

 

$

162,023

 

 

$

1,117,049

 

 

$

1,517,254

 

 

$

(1,345,192)

 

 

$

320,019

 

Fixed Charges

 

 

137,343

 

 

 

163,458

 

 

 

231,551

 

 

 

235,544

 

 

 

234,528

 

Total adjusted earnings available for payment of fixed charges

 

$

299,366

 

 

$

1,280,507

 

 

$

1,748,805

 

 

$

(1,109,648)

 

 

$

554,547

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt-related expenses

 

$

136,617

 

 

$

160,051

 

 

$

228,568

 

 

$

232,455

 

 

$

232,331

 

Rental expense representative of interest factor

 

 

726

 

 

 

3,407

 

 

 

2,983

 

 

 

3,089

 

 

 

2,197

 

Total fixed charges

 

$

137,343

 

 

$

163,458

 

 

$

231,551

 

 

$

235,544

 

 

$

234,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

2.18

X

 

 

7.83

X

 

 

7.55

X

 

 

NA

(1)

 

 

2.36

X


(1)

Earnings were deficient to cover fixed charges by $1,345,192.