Attached files
Exhibit 12.1
Penn Virginia Resource Partners, L.P.
Statement of Computation of Ratio of Earnings to Fixed Charges Calculation
(in thousands, except ratios)
Year Ended December 31, | Nine Months Ended September 30, |
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2006 | 2007 | 2008 | 2009 | 2010 | 2011 | |||||||||||||||||||
Earnings |
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Pre-tax income * |
$ | 33,030 | $ | 28,098 | $ | 101,701 | $ | 60,148 | $ | 67,070 | $ | 81,879 | ||||||||||||
Fixed charges |
19,783 | 19,766 | 26,850 | 27,368 | 39,164 | 38,359 | ||||||||||||||||||
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Total earnings |
$ | 52,813 | $ | 47,864 | $ | 128,551 | $ | 87,516 | $ | 106,234 | $ | 120,238 | ||||||||||||
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Fixed Charges |
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Interest expense |
$ | 19,151 | $ | 18,896 | $ | 25,346 | $ | 24,878 | $ | 35,982 | $ | 35,588 | ||||||||||||
Rental interest factor |
632 | 870 | 1,504 | 2,490 | 3,182 | 2,771 | ||||||||||||||||||
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Total fixed charges |
$ | 19,783 | $ | 19,766 | $ | 26,850 | $ | 27,368 | $ | 39,164 | $ | 38,359 | ||||||||||||
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Ratio of earnings to fixed charges |
2.7x | 2.4x | 4.8x | 3.2x | 2.7x | 3.1x |
* | Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest. |