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 | ||||||||||||||||||
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Total earnings | $ | 47,864 | $ | 128,551 | $ | 87,516 | $ | 106,234 | $ | 152,682 | $ | (14,965 | ) | |||||||||||
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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 | ||||||||||||||||||
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Total fixed charges | $ | 19,766 | $ | 26,850 | $ | 27,368 | $ | 39,164 | $ | 51,222 | $ | 59,835 | ||||||||||||
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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. |