EX-12 9 d16885_ex12.htm

EXHIBIT 12

James River Coal Company
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)

    Pro Forma
Year Ended
December 31, 2004
  Successor Company
Eight Months Ended
December 31, 2004
  Predecessor Company
        Four Months Ended
April 30, 2004
  Year Ended December 31,

 		                  2003
     2002
     2001
     2000
Earnings:
                                                                                                      
Income (loss) before income taxes
           11,369              2,767                107,989    (59,652 )   (67,222 )   (26,527 )   3,382   
Fixed Charges
           11,125              5,642                678     18,745    30,101    24,143    17,930   
Total Earnings
           22,494              8,409                108,667    (40,907 )   (37,121 )   (2,384 )   21,312   
Fixed Charges:
                                                                                                      
Interest expense, including amortization of debt issue costs
           10,795              5,457                567     18,536    29,883    23,924    17,706   
Estimated interest factor of rental expense
           330               185                 111     209     218     219     224    
Total fixed charges
           11,125              5,642                678     18,745    30,101    24,143    17,930   
Preferred dividends
           —               —                 —     340     680     595     714    
Total fixed charges and Preferred dividends
           11,125              5,642                678     19,085    30,781    24,738    18,644   
Ratio of earnings to fixed charges and preferred dividends
           2.02              1.49                160.28    —     —     —     1.14   
Deficiency of earnings to fixed charges and preferred dividends
           —               —                 —     59,992    67,902    27,122    —