EX-12.1 5 v212074_ex12-1.htm Unassociated Document
Exhibit 12.1
Penn Virginia Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges Calculation
(in thousands, except ratios)
 
   
Year Ended December 31,
  
   
2006
    
2007
    
2008
    
2009
    
2010
  
Earnings
                              
Pre-tax income *
   $ 91,397     $ 52,655     $ 146,238     $ (219,068 )   $ (109,562 )
Fixed charges
     11,525       28,162       33,772       53,535       60,003  
Total Earnings
   $ 102,922     $ 80,817     $ 180,010     $ (165,533 )   $ (49,559 )
                                         
                                         
                                         
Fixed Charges
                                        
Interest expense
   $ 8,828     $ 23,717     $ 27,614     $ 47,545     $ 55,063  
Rental Interest Factor
     2,697       4,445       6,158       5,990       4,940  
Total Fixed Charges
   $ 11,525     $ 28,162     $ 33,772     $ 53,535     $ 60,003  
                                         
                                         
                                         
Ratio of Earnings to Fixed Charges
     8.9 x     2.9 x     5.3 x     **       **  
 
*
Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest.
 
**
During 2009 and 2010, earnings were deficient by $165,533 and $49,559, respectively, regarding the coverage of fixed charges