EX-12.2 6 anr-2012930x10qexhibit122.htm OTHER RATIOS ANR-2012.9.30-10QExhibit12.2


Exhibit 12.2

Alpha Natural Resources, Inc. and Subsidiaries
Computation of Other Ratios
As of September 30, 2012
(Amounts in thousands except ratios)

Adjusted EBITDA to cash interest ratio: The Adjusted EBITDA to cash interest ratio is defined as Adjusted EBITDA divided by net cash interest expense (defined as interest expense plus/minus interest income and non-cash interest expense). (1) 

Adjusted EBITDA (1)
 
$
860,605

 
 
 
Pro Forma net cash interest expense (1)
 
$
136,489

 
 
 
Adjusted EBITDA to cash interest ratio
 
6.3
 


(1) Adjusted EBITDA and pro forma net cash interest expense are defined and calculated in “Management's Discussion and Analysis of Financial Condition and Results of Operations-Analysis of Material Debt Covenants” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012

Total Senior Secured Debt less Unrestricted Cash to Adjusted EBITDA Ratio: The total senior secured debt to Adjusted EBITDA ratio is defined as consolidated senior secured debt less unrestricted cash divided by Adjusted EBITDA. The deduction for unrestricted cash is limited to $500 million.

Total senior secured debt less unrestricted cash
 
$
55,000

 
 
 
Adjusted EBITDA (1)
 
$
860,605

 
 
 
Total senior secured debt less unrestricted cash to Adjusted EBITDA ratio
 
0.1
 


(1) Adjusted EBITDA is defined and calculated in “Management's Discussion and Analysis of Financial Condition and Results of Operations-Analysis of Material Debt Covenants” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012.





Coal sales realization per ton: Coal sales realization per ton is defined as coal revenues divided by tons sold.

 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2012
 
2011
 
2012
 
2011
 
 
(in thousands, except per ton data)
 
(in thousands, except per ton data)
Revenues:
 
 
 
 
 
 
 
 
Coal revenues:
 
 
 
 
 
 
 
 
Eastern steam
 
 
$
653,948

 
 
$
853,361

 
 
$
2,146,788

 
 
$
1,689,802

Western steam
 
170,160
 
 
150,483
 
 
454,334
 
 
430,485
 
Metallurgical
 
631,594
 
 
994,089
 
 
2,059,419
 
 
2,275,516
 
Total
 
 
$
1,455,702

 
 
$
1,997,933

 
 
$
4,660,541

 
 
$
4,395,803

 
 
 
 
 
 
 
 
 
Tons sold :
 
 
 
 
 
 
 
 
Eastern steam
 
9,849
 
 
12,723
 
 
32,368
 
 
25,255
 
Western steam
 
13,219
 
 
12,556
 
 
35,152
 
 
36,054
 
Metallurgical
 
4,860
 
 
5,900
 
 
15,353
 
 
13,883
 
Total
 
27,928
 
 
31,179
 
 
82,873
 
 
75,192
 
 
 
 
 
 
 
 
 
 
Coal sales realization per ton:
 
 
 
 
 
 
 
 
Eastern steam
 
 
$
66.40

 
 
$
67.07

 
 
$
66.32

 
 
$
66.91

Western steam
 
 
$
12.87

 
 
$
11.98

 
 
$
12.92

 
 
$
11.94

Metallurgical
 
 
$
129.96

 
 
$
168.49

 
 
$
134.15

 
 
$
163.90

Average
 
 
$
52.12

 
 
$
64.08

 
 
$
56.24

 
 
$
58.46