Exhibit 12.1

COMPUTATION OF HISTORICAL RATIOS OF EARNINGS TO FIXED CHARGES (1)

(in thousands, except ratio data)

CLOUD PEAK ENERGY INC.

	Nine Months Ended September 30,			Year Ended December 31,
	2016			2015			2014			2013			2012			2011
Earnings:
Income from continuing operations before income tax benefit (provision), earnings (loss) from unconsolidated affiliates and minority interest	$	(4,878	)	$	(128,720	)	$	113,294		$	63,066		$	234,778		$	199,445
Amortization of capitalized interest	4,343			11,664			10,432			6,602			4,141			1,026
Distributions of income from equity investments	1,500			—			2,250			2,000			1,023			5,250
Capitalized interest	(1,205		)	(1,018		)	(208		)	(29,378		)	(41,975		)	(44,883		)
Fixed charges	35,870			49,365			56,605			71,682			79,448			79,205
Adjusted income from continuing operations before income tax provision	$	35,630		$	(68,709	)	$	182,373		$	113,972		$	277,415		$	240,043
Fixed charges:
Interest expense	$	34,117		$	47,561		$	55,622		$	41,665		$	36,327		$	33,866
Capitalized interest	1,205			1,018			208			29,378			41,975			44,883
Interest within rental expense	548			786			775			639			1,146			456
Total fixed charges	$	35,870		$	49,365		$	56,605		$	71,682		$	79,448		$	79,205
Ratio of earnings to fixed charges (2)	1.0x			—			3.2x			1.6x			3.5x			3.0x

(1)For purposes of calculating the ratio of earnings to fixed charges, earnings were calculated by adding (i) earnings from continuing operations, (ii) interest expense, net, including the portion of rents representative of an interest factor, (iii) amortization of debt issue costs and capitalized interest, (iv) distributions from equity investments and (v) capitalized interest. Fixed charges consist of interest expense, net, amortization of debt issue costs, and the portions of rents representative of an interest factor.

(2)Earnings for 2015 were inadequate to cover fixed charges by $118.1 million.