Exhibit 12.1
Penn Virginia Resource Partners, L.P.
Statement of Computation of Ratio of Earnings to Fixed Charges Calculation
(in thousands, except ratios)
Year Ended December 31, | Six Months Ended June 30, | |||||||||||||||||||||||||||
2004 | 2005 | 2006 | 2007 | 2008 | 2008 | 2009 | ||||||||||||||||||||||
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. |