EX-12.2 6 anr-2013331x10qexhibit122.htm COMPUTATION OF OTHER RATIOS ANR-2013.3.31-10QExhibit12.2


Exhibit 12.2

Alpha Natural Resources, Inc. and Subsidiaries
Computation of Other Ratios
As of March 31, 2013
(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)
 
$
989,888

 
 
 
Pro Forma net cash interest expense (1)
 
$
181,164

 
 
 
Adjusted EBITDA to cash interest ratio
 
5.5x
 


(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 March 31, 2013.

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
 
$
25,000

 
 
 
Adjusted EBITDA (1)
 
$
989,888

 
 
 
Total senior secured debt less unrestricted cash to Adjusted EBITDA ratio
 
.03x
 


(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 March 31, 2013.





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

 
 
Three Months Ended
March 31,
 
 
2013
 
2012
 
 
 
Revenues:
 
 
 
 
Coal revenues:
 
 
 
 
Eastern steam
 
$
489,044

 
$
774,424

Western steam
 
129,690

 
152,441

Metallurgical
 
521,655

 
712,693

Total
 
$
1,140,389

 
$
1,639,558

 
 
 
 
 
Tons sold :
 
 
 
 
Eastern steam
 
7,901

 
11,476

Western steam
 
9,953

 
11,772

Metallurgical
 
5,051

 
4,898

Total
 
22,905

 
28,146

 
 
 
 
 
Coal sales realization per ton:
 
 
 
 
Eastern steam
 
$
61.90

 
$
67.48

Western steam
 
$
13.03

 
$
12.95

Metallurgical
 
$
103.28

 
$
145.51

Average
 
$
49.79

 
$
58.25