Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends

	Three Months Ended March 31,
	2012			2011
	(Dollars in thousands, except ratios)
Earnings:
Pretax income, excluding income or loss from equity investments	$	(22,219	)	$	65,624
Adjustments:
Fixed charges	79,741			37,188
Distributed income from equity investments	1,801			1,814
Capitalized interest, net of amortization	(930		)	876
Arch Western Resources, LLC dividends on preferred membership interest	335			(29		)
Total earnings	$	58,728		$	105,473
Fixed charges:
Interest expense	$	74,772		$	34,580
Capitalized interest	2,430			—
Arch Western Resources, LLC dividends on preferred membership interest	(335		)	29
Portions of rent which represent an interest factor	2,874			2,579
Total fixed charges	79,741			37,188
Total fixed charges and preferred stock dividends	$	79,741		$	37,188
Ratio of earnings to combined fixed charges and preference dividends	0.74		x	2.84		x