EX-12.1 3 d50910exv12w1.htm STATEMENTS OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS exv12w1
 

Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
     The following table sets forth the ratio of earnings to fixed charges and preferred stock dividends of Royal Gold for the periods indicated.
                                                 
    Three Months        
    Ended September 30,     Fiscal Year Ended June 30,  
    2007     2007     2006     2005     2004     2003  
Earnings
   $ 8,611,613     $ 29,268,745     $ 16,450,748     $ 15,556,177     $ 12,526,037     $ 8,637,078  
Fixed Charges:
                                                
Interest expense
     311,112       1,266,499       157,500       76,042       76,250       126,968  
Amortization of debt issuance costs
     31,779       63,605       18,062       26,270       39,663       —  
Portion of rental expense representative of interest
     16,715       51,812       38,402       37,030       40,836       38,929  
 
                                    
Total Fixed Charges
     359,606       1,381,916       213,964       139,342       156,749       165,897  
Earnings plus fixed charges
     8,971,219       30,650,661       16,664,712       15,695,519       12,682,786       8,802,975  
Ratio of earnings to fixed charges
     24.95       22.18       77.89       112.64       80.91       53.06  
 
(1)   For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations before income taxes, minority interest and losses or earnings from equity investment, plus fixed charges. “Fixed charges” means the sum of (i) interest expensed and capitalized, (ii) amortized debt issuance costs, and (iii) an estimate of the interest within rental expense. As of the date of this prospectus, we have not issued any shares of preferred stock.