Exhibit 12.1
EQT Corporation
Computation of Ratios of Earnings to Fixed Charges
(Dollars in Thousands)
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| Nine Months Ended |
| Years Ended December 31, |
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| September 30, 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
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Earnings |
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Net Income before income taxes, discontinued operations, extraordinary items and cumulative effect of accounting changes |
| $ | 154,587 |
| $ | 253,597 |
| $ | 410,524 |
| $ | 401,878 |
| $ | 325,731 |
| $ | 411,612 |
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Minus: equity (earnings) loss of non consolidated investments and minority interest |
| (7,593 | ) | (6,509 | ) | (5,714 | ) | (3,099 | ) | (260 | ) | (762 | ) | ||||||
Plus: fixed charges |
| 110,873 |
| 125,057 |
| 81,221 |
| 57,399 |
| 51,870 |
| 47,166 |
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Minus: capitalized interest |
| (1,234 | ) | (4,258 | ) | (16,989 | ) | (6,710 | ) | (633 | ) | (173 | ) | ||||||
Earnings before income taxes, discontinued operations, extraordinary items and cumulative effect of accounting changes |
| $ | 256,633 |
| $ | 367,887 |
| $ | 469,042 |
| $ | 449,468 |
| $ | 376,708 |
| $ | 457,843 |
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Fixed Charges |
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Interest expense |
| $ | 102,075 |
| $ | 111,779 |
| $ | 58,394 |
| $ | 47,669 |
| $ | 48,494 |
| $ | 44,781 |
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Plus: capitalized interest and allowance for borrowed funds used during construction |
| 1,234 |
| 4,258 |
| 16,989 |
| 6,710 |
| 633 |
| 173 |
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Plus: estimated interest component of rental expense |
| 7,564 |
| 9,020 |
| 5,838 |
| 3,020 |
| 2,743 |
| 2,212 |
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Fixed Charges |
| $ | 110,873 |
| $ | 125,057 |
| $ | 81,221 |
| $ | 57,399 |
| $ | 51,870 |
| $ | 47,166 |
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Ratio of earnings to fixed charges |
| 2.31 |
| 2.94 |
| 5.77 |
| 7.83 |
| 7.26 |
| 9.71 |
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