EXHIBIT 12.1
Range Resources Corporation
Calculation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Years Ended December 31, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
EARNINGS: | ||||||||||||||||||||
Income (loss) from continuing operations before provision (benefit) for income taxes | $ | 78,263 | $ | 139,608 | $ | 84,773 | $ | 510,273 | $ | 218,561 | ||||||||||
Share of distributed income of equity method investments (net of equity method income or loss) | 24,544 | 1,482 | 13,699 | 419 | (974 | ) | ||||||||||||||
Fixed charges | 145,981 | 137,297 | 123,571 | 104,830 | 79,519 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total earnings (loss) | $ | 248,788 | $ | 278,387 | $ | 222,043 | $ | 615,522 | $ | 297,106 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
FIXED CHARGES: | ||||||||||||||||||||
Interest expense (1) | $ | 139,843 | $ | 131,192 | $ | 117,367 | $ | 99,748 | $ | 77,737 | ||||||||||
Interest portion of rental expense | 6,138 | 6,105 | 6,204 | 5,082 | 1,782 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total fixed charges | $ | 145,981 | $ | 137,297 | $ | 123,571 | $ | 104,830 | $ | 79,519 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges | 1.7 | 2.0 | 1.8 | 5.9 | 3.7 |
(1) | Amortization of debt issuance costs is included in interest expense. |