Exhibit 12.1
MASSEY ENERGY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
| Three Months Ended March 31, 2006 | Year Ended December 31, | Two Months 2001 | Year Ended October 31, 2001 | ||||||||||||||||||
| 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||
Earnings: | |||||||||||||||||||||
(Loss) Income before taxes | $ | 7,617 | $ | (75,410) | $ | (5,643) | $ | (60,651) | $ | (57,520) | $ | (23,524) | $ | (15,921) | |||||||
Fixed charges | 25,607 | 80,351 | 74,502 | 67,501 | 52,413 | 7,971 | 51,585 | ||||||||||||||
Capitalized interest | — | — | — | — | (382) | — | — | ||||||||||||||
Amortization of capitalized interest | — | 20 | 20 | 20 | 5 | — | — | ||||||||||||||
Earnings (Loss) before taxes and fixed charges | $ | 33,229 | $ | 4,961 | $ | 68,879 | $ | 6,870 | $ | (5,484) | $ | (15,553) | $ | 35,664 | |||||||
Fixed charges: | |||||||||||||||||||||
Interest expense | $ | 21,612 | $ | 67,064 | $ | 60,660 | $ | 48,259 | $ | 35,302 | $ | 5,302 | $ | 34,214 | |||||||
Capitalized interest | — | — | — | — | 382 | — | — | ||||||||||||||
Interest portion of rental expense | 3,995 | 13,287 | 13,842 | 19,242 | 16,729 | 2,669 | 17,371 | ||||||||||||||
Total fixed charges | $ | 25,607 | $ | 80,351 | $ | 74,502 | $ | 67,501 | $ | 52,413 | $ | 7,971 | $ | 51,585 | |||||||
Ratio of earnings to fixed charges | 1.3x | (a) | (a) | (a) | (a) | (a) | (a) | ||||||||||||||
| (a) | Earnings for the years ended December 31, 2005, 2004, 2003 and 2002, the two months ended December 31, 2001, and the year ended October 31, 2001, were inadequate to cover fixed charges, with a deficiency of $75.4 million, $5.6 million, $60.6 million, $57.9 million, $23.5 million and $15.9 million, respectively. |
