EX-12.1 2 w74928exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(UNAUDITED)
Atlas Energy Resources, LLC
(amounts in thousands except ratios)
                         
                    Three Months  
    Year Ended     Ended  
    December 31,     December 31,     March 31,  
    2007     2008     2009  
Earnings:
                        
Income before income tax expense
   $ 117,536     $ 142,843 (2)   $ 25,603 (2)
Fixed charges
     33,153       61,721       15,095  
Equity income of unconsolidated subsidiary
     158       (233 )     (69 )
Interest capitalized
     (2,730 )     (4,994 )     (1,977 )
Amortization of previously capitalized interest
     191       423       485  
 
                  
 
                        
Total
   $ 148,308     $ 199,760     $ 39,137  
 
                  
 
                        
Fixed Charges:
                        
 
                        
Interest cost and debt expense
   $ 30,096     $ 56,306     $ 12,984  
Interest allocable to rental expense (1)
     327       421       134  
Interest capitalized
     2,730       4,994       1,977  
 
                  
 
                        
Total Fixed charges
   $ 33,153     $ 61,721     $ 15,095  
 
                  
 
                        
Ratio of Earnings to Fixed Charges
     4.47 x     3.24 x     2.59 x
 
                  
 
(1)   Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.
 
(2)   Income before income tax expense has been restated (increased) by $32,000 and $64,000 for the years ended December 31, 2007 and 2008, respectively, to reflect the adoption of Statement of Financial Accounting Standard No. 160, “Noncontrolling interest in Consolidated Financial Statements — an amendment of ARB No. 51.”