Exhibit 12.1
Penn Virginia Resource Partners, L.P.
Statement of Computation of Ratio of Earnings to Fixed Charges Calculation
(in thousands, except ratios)
| | | | | Six Months Ended June 30, | |
| | | | | | | | | | | | | | | | | | | | | |
Earnings | | | | | | | | | | | | | | | | | | | | | |
Pre-tax income* | | $ | 34,876 | | | $ | 52,430 | | | $ | 74,910 | | | $ | 55,552 | | | $ | 103,603 | | | $ | 43,330 | | | $ | 21,493 | |
Fixed charges | | | 7,328 | | | | 14,351 | | | | 19,783 | | | | 19,766 | | | | 26,850 | | | | 11,357 | | | | 13,414 | |
Total earnings | | $ | 42,204 | | | $ | 66,781 | | | $ | 94,693 | | | $ | 75,318 | | | $ | 130,453 | | | $ | 54,687 | | | $ | 34,907 | |
Fixed Charges | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 7,267 | | | $ | 14,053 | | | $ | 19,151 | | | $ | 18,896 | | | $ | 25,346 | | | $ | 10,908 | | | $ | 12,215 | |
Rental interest factor | | | 61 | | | | 298 | | | | 632 | | | | 870 | | | | 1,504 | | | | 377 | | | | 1,199 | |
Total fixed charges | | $ | 7,328 | | | $ | 14,351 | | | $ | 19,783 | | | $ | 19,766 | | | $ | 26,850 | | | $ | 11,357 | | | $ | 13,414 | |
Ratio of earnings to fixed charges | | | 5.8 | x | | | 4.7 | x | | | 4.8 | x | | | 3.8 | x | | | 4.9 | x | | | 4.8 | x | | | 2.6 | x |
* | Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest. |