EX-12.1 8 anr-12312013x10kexhibit121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ANR-12.31.2013-10K Exhibit 12.1


Exhibit 12.1

Alpha Natural Resources, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands except ratio)


 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings:
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
 
(1,330,048
)
 
$
(2,987,144
)
 
$
(766,448
)
 
$
101,436

 
$
33,784

Adjustments:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
301,750
 
 
225,575
 
 
178,229
 
 
83,184
 
 
92,732
 
Income from equity investees
 
22,549
 
 
2,616
 
 
1,268
 
 
1,706
 
 
189
 
Amortization of capitalized interest
 
347
 
 
139
 
 
107
 
 
106
 
 
137
 
Capitalized interest
 
—
 
 
(1,194
)
 
(1,925
)
 
(2,152
)
 
(492
)
 
 
$
(1,005,402
)
 
$
(2,760,008
)
 
$
(588,769
)
 
$
184,280

 
$
126,350

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
246,589

 
$
198,147

 
$
141,914

 
$
73,463

 
$
82,825

(Gain) loss on early extinguishment of debt
 
 
40,465

 
 
(773
)
 
 
10,026

 
 
1,349

 
 
5,641

Portion of rental expense representative of interest
 
14,696
 
 
27,007
 
 
24,364
 
 
6,220
 
 
3,774
 
Capitalized interest
 
—
 
 
1,194
 
 
1,925
 
 
2,152
 
 
492
 
 
 
$
301,750

 
$
225,575

 
$
178,229

 
$
83,184

 
$
92,732

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
N/A (1)
 
 
N/A (1)
 
 
N/A (1)
 
 
2.22
 
 
1.36
 


(1) 
The ratio of earnings to fixed charges was less than one-to-one for the years ended December 31, 2013 and 2012. Additional earnings of $1,307,151 and $2,985,583, respectively, would be needed to have a one-to-one ratio of earnings to fixed charges.