Exhibit 12.1
Range Resources Corporation
Statement of Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
| Six Months Ended June 30, | For the Year Ended December 31, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 95,027 | $ | 168,213 | $ | 166,439 | $ | 168,977 | $ | 176,557 | $ | 168,798 | ||||||||||||
Amortization of premiums and discounts(1) | — | — | — | — | — | — | ||||||||||||||||||
Amortization of capitalized expenses relating to debt(1) | — | — | — | — | — | — | ||||||||||||||||||
Interest within rental expense | 3,377 | 4,620 | 5,247 | 4,389 | 4,323 | 4,554 | ||||||||||||||||||
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Total fixed charges | $ | 98,404 | $ | 172,833 | $ | 171,686 | $ | 173,366 | $ | 180,880 | $ | 173,352 | ||||||||||||
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Earnings | ||||||||||||||||||||||||
Pre-tax income (loss) from continuing operations before equity investees | $ | 409,707 | $ | (802,138 | ) | $ | (1,052,362 | ) | $ | 1,030,885 | $ | 149,579 | $ | 25,056 | ||||||||||
Add: | ||||||||||||||||||||||||
Fixed charges | 98,404 | 172,833 | 171,686 | 173,366 | 180,880 | 173,352 | ||||||||||||||||||
Distributed income of equity investees | — | — | — | 5,897 | 5,201 | 12,750 | ||||||||||||||||||
Income from equity investees arising from guarantees | — | — | — | 277 | (462 | ) | 372 | |||||||||||||||||
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Earnings | $ | 508,111 | $ | (629,305 | ) | $ | (880,676 | ) | $ | 1,210,425 | $ | 335,198 | $ | 211,530 | ||||||||||
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Ratio of Earnings to Fixed Charges | 5.2x | * | * | 7.0x | 1.9x | 1.2x | ||||||||||||||||||
| (1) | Amortization of premiums and discounts is included in interest expense. |
| * | Earnings were inadequate to cover fixed charges for the year ended December 31, 2016 by $802.1 million and for the year December 31, 2015 by $1.0 billion. |
