Attached files
Exhibit 12.1
Alpha Natural Resources, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands except ratio)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Earnings: | ||||||||||||||||
Loss before income taxes | $ | (228,913 | ) | $ | (601,378 | ) | $ | (760,198 | ) | $ | (1,063,732 | ) | ||||
Adjustments: | ||||||||||||||||
Fixed charges | 78,282 | 65,635 | 220,676 | 227,196 | ||||||||||||
Income from equity investees | 97 | 6,828 | 981 | 23,615 | ||||||||||||
Amortization of capitalized interest | 71 | 88 | 357 | 265 | ||||||||||||
Capitalized interest | (94 | ) | — | (94 | ) | (1 | ) | |||||||||
$ | (150,557 | ) | $ | (528,827 | ) | $ | (538,278 | ) | $ | (812,657 | ) | |||||
Fixed Charges: | ||||||||||||||||
Interest expense | $ | 75,688 | $ | 62,233 | $ | 211,662 | $ | 182,587 | ||||||||
Loss on early extinguishment of debt | — | (158 | ) | 2,022 | 33,039 | |||||||||||
Portion of rental expense representative of interest | 2,500 | 3,560 | 6,898 | 11,569 | ||||||||||||
Capitalized interest | 94 | — | 94 | 1 | ||||||||||||
$ | 78,282 | $ | 65,635 | $ | 220,676 | $ | 227,196 | |||||||||
Ratio of earnings to fixed charges | N/A(1) | N/A(1) | N/A(1) | N/A(1) |
(1) | The ratio of earnings to fixed charges was less than one-to-one for the three months ended September 30, 2014 and September 30, 2013, and for the nine months ended September 30, 2014 and September 30, 2013. Additional earnings of $228,839, $594,462, $758,954, and $1,039,853 respectively, would be needed to have a one-to-one ratio of earnings to fixed charges. |