EX-12.1 2 w74928a3exv12w1.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)
                         
    Year Ended     Six Months  
    December 31,     December 31,     Ended  
    2007     2008     June 30, 2009  
Earnings:
                       
Income before income tax expense
  $ 117,536     $ 142,843 (2)   $ 37,849  
Fixed charges
    33,153       61,721       32,100  
Equity income of unconsolidated subsidiary
    158       (233 )     (174 )
Interest capitalized
    (2,730 )     (4,994 )     (3,724 )
Amortization of previously capitalized interest
    191       423       572  
 
                 
 
                       
Total
  $ 148,308     $ 199,760     $ 66,623  
 
                 
 
                       
Fixed Charges:
                       
 
                       
Interest cost and debt expense
  $ 30,096     $ 56,306     $ 28,108  
Interest allocable to rental expense (1)
    327       421       268  
Interest capitalized
    2,730       4,994       3,724  
 
                 
 
                       
Total Fixed charges
  $ 33,153     $ 61,721     $ 32,100  
 
                 
 
                       
Ratio of Earnings to Fixed Charges
    4.47 x     3.24 x     2.08 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.”