EX-12 96 y86037exv12.txt STATEMENT OF COMPUTATION OF RATIOS . . . EXHIBIT 12.1 PEABODY ENERGY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
Predecessor Company ------------- April 1, 1998 May 20, 1998 Total Year to to Fiscal Ended May 19, 1998 March 31, 1999 1999(1) March 31, 2000 ------------ -------------- ------- -------------- Income (Loss) Before Income Taxes and Minority Interests $ 6,770 $ (534) $ 6,236 (7,398) Interest Expense 4,222 176,105 180,327 205,056 Interest Portion of Rental Expense 2,430 16,913 19,343 26,225 ---------- --------- --------- -------- Adjusted Earnings $ 13,422 $ 192,484 $ 205,906 223,883 ========== ========= ========= ======== Interest Expense $ 4,222 $ 176,105 $ 180,327 205,056 Interest Portion of Rental Expense 2,430 16,913 19,343 26,225 ---------- --------- --------- -------- Adjusted fixed charges $ 6,652 $ 193,018 $ 199,670 231,281 ========== ========= ========= ======== Ratio of Earnings to Fixed Charges 2.02x 1.00x 1.03x 0.97x ========== ========= ========= ========
Year Nine Months Year Quarter Ended Ended Ended Ended March 31, 2001 December 31, 2001 December 31, 2002 March 31, 2003 -------------- ----------------- ----------------- -------------- Income (Loss) Before Income Taxes and Minority Interests $ 152,894 $ 29,000 $ 78,804 $ (12,133) Interest Expense 197,686 88,686 102,458 26,152 Interest Portion of Rental Expense 44,303 37,294 53,958 12,095 ---------- ---------- --------- --------- Adjusted Earnings $ 394,883 $ 154,980 $ 235,220 $ 26,114 ========== ========== ========= ========= Interest Expense $ 197,686 $ 88,686 $ 102,458 $ 26,152 Interest Portion of Rental Expense 44,303 37,294 53,958 12,095 ---------- ---------- --------- --------- Adjusted fixed charges $ 241,989 $ 125,980 $ 156,416 $ 38,247 ========== ========== ========= ========= Ratio of Earnings to Fixed Charges 1.63x 1.23x 1.50x 0.68x ========== ========== ========= =========
--------------------------- (1) For comparative purposes, we derived the "Total Fiscal 1999" column by adding the period from May 20, 1998 to March 31, 1999 with our predecessor company results for the period from April 1, 1998 to May 19, 1998. The effects of purchase accounting have not been reflected in the results of our predecessor company.