EXHIBIT 12
James River Coal Company
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 11,487 | $ | (41,372 | ) | $ | (138,487 | ) | $ | (24,138 | ) | $ | 54,599 | $ | 52,513 | $ | (96,266 | ) | ||||||||||
Fixed Charges | 26,174 | 28,404 | 55,597 | 52,892 | 34,440 | 21,373 | 22,034 | |||||||||||||||||||||
Total Earnings | 37,661 | (12,968 | ) | (82,890 | ) | 28,754 | 89,039 | 73,886 | (74,232 | ) | ||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense, including amortization of debt issue costs | 24,882 | 26,912 | 52,666 | 50,096 | 29,943 | 17,057 | 17,746 | |||||||||||||||||||||
Estimated interest factor of rental expense | 1,292 | 1,492 | 2,931 | 4,828 | 4,497 | 4,316 | 4,288 | |||||||||||||||||||||
Total fixed charges | 26,174 | 28,404 | 55,597 | 54,294 | 34,440 | 21,373 | 22,034 | |||||||||||||||||||||
Ratio of earnings to fixed charges | 1.4 | – | – | – | 2.6 | 3.5 | – | |||||||||||||||||||||
Deficiency of earnings to fixed charges | $ | – | $ | 41,372 | $ | 138,487 | $ | 24,138 | $ | – | $ | – | $ | 96,266 |