EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CALCULATION Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

Exhibit 12.1

Penn Virginia Resource Partners, L.P.

Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

(in thousands, except ratios)

 

     Year Ended December 31,     Three Months Ended
March 31, 2009		  
     2004     2005     2006     2007     2008    

Earnings

             

Pre-tax income *

    $ 34,876     $ 52,430     $ 74,910     $ 55,552     $ 103,603     $ 7,832  

Fixed charges

      7,328       14,351       19,783       19,766       26,850       6,191  
                                                

Total earnings

    $ 42,204     $ 66,781     $ 94,693     $ 75,318     $ 130,453     $ 14,023  
                                                

Fixed Charges

             

Interest expense

    $ 7,267     $ 14,053     $ 19,151     $ 18,896     $ 25,346     $ 5,638  

Rental interest factor

      61       298       632       870       1,504       553  
                                                

Total fixed charges

    $ 7,328     $ 14,351     $ 19,783     $ 19,766     $ 26,850     $ 6,191  
                                                

Ratio of earnings to fixed charges

      5.8 x     4.7 x     4.8 x     3.8 x     4.9 x     2.3 x

 

* Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest.