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8-K - FORM 8-K - Alpha Natural Resources, Inc.d417735d8k.htm
EX-99.1 - PRESS RELEASE DATED SEPTEMBER 27, 2012 - Alpha Natural Resources, Inc.d417735dex991.htm
EX-99.2 - PRESS RELEASE DATED SEPTEMBER 27, 2012 - Alpha Natural Resources, Inc.d417735dex992.htm

Exhibit 12.1

Alpha Natural Resources, Inc

Computation of ProForma Ratio of Earnings to Fixed Charges

(Amounts in thousands)

 

     Six Months Ended
June 30, 2012
    Year ended
December 31, 2011(1)
 
           (adjusted)  

Earnings:

    

Loss from continuing operations before income taxes

   $ (2,771,943   $ (796,323

Adjustments:

    

Fixed charges

     123,024        208,104   

Loss from equity investees

     811        1,268   

Amortization of capitalized interest

     104        106   

Capitalized interest

     (1,178     (1,925
  

 

 

   

 

 

 
   $ (2,649,182   $ (588,770
  

 

 

   

 

 

 

Fixed Charges:

    

Interest expense

     106,906        171,789   

Loss on early extinguishment of debt

     —          10,026   

Portion of rental expense representative of interest

     14,940        24,364   

Capitalized interest

     1,178        1,925   
  

 

 

   

 

 

 
   $ 123,024      $ 208,104   
  

 

 

   

 

 

 

Pro forma ratio of earnings to fixed charges(2)

     N/A (3)      N/A (3) 

 

(1) As adjusted to reflect the final purchase price allocation and associated retrospective application thereof related to the acquisition of Massey Energy Company and other adjustments.

 

(2) Assumes $500 million aggregate principal amount of 8.25% notes intended to be offered and the redemption of $350 million aggregate principal amount of the 3.25% Convertible Senior Notes due 2015 issued by Alpha Appalachia Holdings, Inc. (formerly Massey Energy Company).

 

(3) The pro forma ratio of earnings to fixed charges was less than one-to-one for the year ended December 31, 2011 (as adjusted) and the six months ended June 30, 2012. Additional earnings of $796.9 million and $2.8 billion, respectively, would be needed to have a one-to-one pro forma ratio of earnings to fixed charges.