Exhibit 12.1
Range Resources Corporation
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Six Months Ended | Year Ended | |||||||||||||||||||||||
June 30, | December 31, | |||||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Income (loss) from continuing operations before provision (benefit) for incomes taxes | $ | 142,018 | $ | (58,732 | ) | $ | 544,871 | $ | 249,982 | $ | 318,515 | $ | 175,985 | |||||||||||
Share of distributed income of equity method investments (net of equity method income or loss) | 985 | 13,699 | 419 | (974 | ) | (548 | ) | $ | — | |||||||||||||||
Fixed charges | 62,440 | 121,261 | 102,784 | 79,519 | 57,466 | 38,312 | ||||||||||||||||||
Total earnings | $ | 205,443 | $ | 76,228 | $ | 648,074 | $ | 328,527 | $ | 375,433 | $ | 214,297 | ||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest expense (1) | $ | 61,066 | $ | 117,367 | $ | 99,748 | $ | 77,737 | $ | 55,849 | $ | 37,619 | ||||||||||||
Interest portion of rental expense | 1,374 | 3,894 | 3,036 | 1,782 | 1,617 | 693 | ||||||||||||||||||
Total fixed charges | $ | 62,440 | $ | 121,261 | $ | 102,784 | $ | 79,519 | $ | 57,466 | $ | 38,312 | ||||||||||||
Ratio of earnings to fixed charges | 3.3 | * | 6.3 | 4.1 | 6.5 | 5.6 |
(1) | Amortization of debt issuance costs is included in interest expense. | |
(*) | For the year ended December 31, 2009, earnings were less than fixed charges and the coverage deficiency was $45,033. |