Exhibit 12.1
Penn Virginia Resource Partners, L.P.
Penn Virginia Operating Co., LLC
Statement of Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, | January 1, 2001 Through October 30, | October 30, 2001 through December 31, | Year Ended December 31, | Three Months Ended March 31, | |||||||||||
1998 | 1999 | 2000 | 2001 | 2001 | 2002 | 2003 | |||||||||
Earnings | |||||||||||||||
Pre-tax income | $ 13,171 | $ 13,385 | $ 16,842 | $ 19,113 | $ 3,677 | $ 24,686 | $ 5,514 | ||||||||
Fixed charges | 415 | 4,010 | 7,670 | 7,027 | 274 | 1,786 | 800 | ||||||||
Total Earnings | $ 13,586 | $ 17,395 | $ 24,512 | $ 26,140 | $ 3,951 | $ 26,472 | $ 6,314 | ||||||||
Fixed Charges | |||||||||||||||
Interest expense | $ — | $ — | $ — | $ — | $ 269 | $ 1,758 | $ 785 | ||||||||
Interest expense - affiliate | 379 | 3,980 | 7,670 | 7,003 | — | — | — | ||||||||
Rental Interest Factor | 36 | 30 | 29 | 24 | 5 | 28 | 15 | ||||||||
Total Fixed Charges | $ 415 | $ 4,010 | $ 7,699 | $ 7,027 | $ 274 | $ 1,786 | $ 800 | ||||||||
Ratio of Earnings to Fixed Charges | 32.8x | 4.3x | 3.2x | 3.7x | 14.4x | 14.8x | 7.9x |