Exhibit 12.1
Range Resources Corporation
Calculation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
The following table sets forth our ratio of earnings to fixed charges for the periods indicated:
| Years Ended December 31, | ||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
(Loss) income from continuing operations before provision (benefit) for income taxes | $ | (1,052,362 | ) | $ | 1,030,885 | $ | 149,579 | $ | 25,056 | $ | 78,263 | |||||||||
Share of distributed income of equity method investments (net of equity method income or loss) | 5,897 | 5,478 | 4,739 | 13,122 | 24,544 | |||||||||||||||
Fixed charges | 171,686 | 173,366 | 180,880 | 173,352 | 145,981 | |||||||||||||||
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Total (loss) earnings | (874,779 | ) | $ | 1,209,729 | $ | 335,198 | 211,530 | $ | 248,788 | |||||||||||
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FIXED CHARGES: | ||||||||||||||||||||
Interest expense(1) | $ | 166,439 | $ | 168,977 | $ | 176,557 | $ | 168,798 | $ | 139,843 | ||||||||||
Interest portion of rental expense | 5,247 | 4,389 | 4,323 | 4,554 | 6,138 | |||||||||||||||
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Total fixed charges | $ | 171,686 | $ | 173,366 | $ | 180,880 | $ | 173,352 | $ | 145,981 | ||||||||||
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Ratio of earnings to fixed charges | * | 7.0 | 1.9 | 1.2 | 1.7 | |||||||||||||||
| (1) | Amortization of debt issuance costs is included in interest expense. |
| * | Earnings were inadequate to cover fixed charges for the year ended December 31, 2015 by $1.0 billion. |
