PVR Partners, L. P. (PVR) 10-Q 2012 Q3 Quarterly report

Exhibit 12.1

PVR 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,
	2007		2008		2009		2010		2011		2012
Earnings
Pre-tax income (loss) *	$	28,098	$	101,701	$	60,148	$	67,070	$	101,460	$	(74,800	)
Fixed charges		19,766		26,850		27,368		39,164		51,222		59,835
Total earnings	$	47,864	$	128,551	$	87,516	$	106,234	$	152,682	$	(14,965	)
Fixed Charges
Interest expense	$	18,896	$	25,346	$	24,878	$	35,982	$	47,630	$	56,806
Rental interest factor		870		1,504		2,490		3,182		3,592		3,029
Total fixed charges	$	19,766	$	26,850	$	27,368	$	39,164	$	51,222	$	59,835
Ratio of earnings to fixed charges		2.4x		4.8x		3.2x		2.7x		3.0x		**

* Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest.

** During the nine months ended September 30, 2012, earnings were deficient by $14,965 regarding the ratio of earnings to fixed charges.