EX-12.2 6 anr-2013630x10qexhibit122.htm COMPUTATION OF OTHER RATIOS ANR-2013.6.30-10QExhibit12.2


Exhibit 12.2

Alpha Natural Resources, Inc. and Subsidiaries
Computation of Other Ratios
As of June 30, 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)
 
$
901,929

 
 
 
Pro Forma net cash interest expense (1)
 
$
189,937

 
 
 
Adjusted EBITDA to cash interest ratio
 
4.7x
 


(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 June 30, 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
 
$
(75,000
)
 
 
 
Adjusted EBITDA (1)
 
$
901,929

 
 
 
Total senior secured debt less unrestricted cash to Adjusted EBITDA ratio
 
(.08)x
 


(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 June 30, 2013.





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

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
Coal revenues:
 
 
 
 
 
 
 
 
Eastern steam
 
$
447,246

 
$
718,416

 
$
936,290

 
$
1,492,840

Western steam
 
108,633

 
131,733

 
238,323

 
284,174

Metallurgical
 
567,297

 
715,132

 
1,088,952

 
1,427,825

Total
 
$
1,123,176

 
$
1,565,281

 
$
2,263,565

 
$
3,204,839

 
 
 
 
 
 
 
 
 
Tons sold:
 
 
 
 
 
 
 
 
Eastern steam
 
7,152

 
11,043

 
15,053

 
22,519

Western steam
 
8,785

 
10,161

 
18,738

 
21,933

Metallurgical
 
5,620

 
5,595

 
10,671

 
10,493

Total
 
21,557

 
26,799

 
44,462

 
54,945

 
 
 
 
 
 
 
 
 
Coal sales realization per ton:
 
 
 
 
 
 
 
 
Eastern steam
 
$
62.54

 
$
65.05

 
$
62.20

 
$
66.29

Western steam
 
$
12.37

 
$
12.96

 
$
12.72

 
$
12.96

Metallurgical
 
$
100.95

 
$
127.83

 
$
102.05

 
$
136.08

Average
 
$
52.10

 
$
58.41

 
$
50.91

 
$
58.33