EX-12.2 7 anr-12312012x10kexhibit122.htm COMPUTATION OF OTHER RATIOS ANR-12.31.2012-10K Exhibit 12.2


Exhibit 12.2

Alpha Natural Resources, Inc. and Subsidiaries
Computation of Other Ratios
As of December 31, 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)
 
$
1,080,122
 
 
 
 
 
Pro Forma net cash interest expense (1)
 
$
181,331
 
 
 
 
 
Adjusted EBITDA to cash interest ratio
 
6.0
 


(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 2012 Annual Report on Form 10-K.

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
 
$
40,000
 
 
 
 
 
Adjusted EBITDA (1)
 
$
1,080,122
 
 
 
 
 
Total senior secured debt less unrestricted cash to Adjusted EBITDA ratio
 
0.04
 


(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 2012 Annual Report on Form 10-K.





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


 
 
 
 
 
Years Ended December 31,
 
 
2012
 
2011
 
 
(in thousands, except per ton data)
Revenues:
 
 
 
 
Coal revenues:
 
 
 
 
Eastern steam
 
 
$
2,755,474

 
 
 
$
2,488,729

 
Western steam
 
604,880

 
604,880

 
 
 
 
596,724

 
Metallurgical
 
2,655,342

 
2,655,342

 
 
 
 
3,103,981

 
Total
 
 
$
6,015,696

 
 
 
$
6,189,434

 
 
 
 
 
 
Tons sold :
 
 
 
 
Eastern steam
 
41,797
 
37,192
Western steam
 
46,732
 
49,949
Metallurgical
 
20,267
 
19,177
Total
 
108,796
 
106,318
 
 
 
 
 
Coal sales realization per ton:
 
 
 
 
Eastern steam
 
 
$
65.92

 
 
 
$
66.92

 
Western steam
 
 
$
12.94

 
 
 
$
11.95

 
Metallurgical
 
 
$
131.02

 
 
 
$
161.85

 
Average
 
 
$
55.29

 
 
 
$
58.22