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EXCEL - IDEA: XBRL DOCUMENT - PENN VIRGINIA CORPFinancial_Report.xls
EX-31.2 - EXHIBIT 31.2 - PENN VIRGINIA CORPpva-20140930xex312.htm
EX-31.1 - EXHIBIT 31.1 - PENN VIRGINIA CORPpva-20140930xex311.htm
EX-32.2 - EXHIBIT 32.2 - PENN VIRGINIA CORPpva-20140930xex322.htm
EX-32.1 - EXHIBIT 32.1 - PENN VIRGINIA CORPpva-20140930xex321.htm
10-Q - 10-Q - PENN VIRGINIA CORPpva-20140930x10q.htm
EX-10.1 - EXHIBIT 10.1 - PENN VIRGINIA CORPpva-20140930xex101.htm


Exhibit 12.1
Penn Virginia Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(in thousands, except ratios)

 
Nine Months Ended
 
 
 
 
 
 
 
 
 
 
 
September 30,
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
7,763

 
$
(220,766
)
 
$
(173,291
)
 
$
(221,070
)
 
$
(108,178
)
 
$
(216,750
)
Fixed charges
85,783

 
97,903

 
66,616

 
62,002

 
60,003

 
52,539

Capitalized interest
(4,875
)
 
(5,266
)
 
(803
)
 
(1,983
)
 
(1,384
)
 
(2,318
)
Preferred stock dividend requirements
(11,150
)
 
(10,647
)
 
(2,793
)
 

 

 

 
$
77,521

 
$
(138,776
)
 
$
(110,271
)
 
$
(161,051
)
 
$
(49,559
)
 
$
(166,529
)
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
67,716

 
$
78,841

 
$
59,339

 
$
56,216

 
$
53,679

 
$
44,231

Capitalized interest
4,875

 
5,266

 
803

 
1,983

 
1,384

 
2,318

Rent factor
2,042

 
3,149

 
3,681

 
3,803

 
4,940

 
5,990

Preferred stock dividend requirements
11,150

 
10,647

 
2,793

 

 

 

 
$
85,783

 
$
97,903

 
$
66,616

 
$
62,002

 
$
60,003

 
$
52,539

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and preferred stock dividends 1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 During the nine months ended September 30, 2014, earnings were deficient by $8,262. During the years ended December 31, 2013, 2012, 2011, 2010 and 2009, earnings were deficient by $236,679, $176,887, $223,053, $109,562 and $219,068, respectively, regarding the coverage of fixed charges and preferred stock dividends.