EX-12.1 3 a2199422zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


CLOUD PEAK RESOURCES LLC AND SUBSIDIARIES

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

(in thousands, except ratio data)

 
    
    
    
    
    
   Six
months
ended
June 30 		 
 
   2009   2008   2007   2006   2005   2010  

Earnings:

                                      

Income from continuing operations before income tax benefit (provision), earnings (loss) from unconsolidated affiliates and minority interest

   $ 249,340   $ 109,140   $ 69,377   $ 53,689   $ 51,780   $ 106,132  
 

Fixed charges

     22,038     27,366     43,325     44,152     33,005     36,829  
 

Amortization of capitalized interest

     1,363     1,342     1,244     934     433     684  
 

Distributions of income from equity investments

     4,000     4,750     —     —     —     —  
 

Capitalized interest

     (15,484 )   (6,558 )   (1,802 )   (5,013 )   (6,014 )   (11,917 )
                           

Adjusted income from continuing operations before income tax provision

   $ 261,257   $ 136,040   $ 112,145   $ 93,762   $ 79,204   $ 131,728  
                           

Fixed charges:

                                      
 

Interest expense

   $ 5,992   $ 20,376   $ 40,930   $ 38,785   $ 26,771   $ 24,782  
 

Capitalized interest

     15,484     6,558     1,802     5,013     6,014     11,917  
 

Interest within rental expense

     562     432     593     354     220     130  
                           

Total fixed charges

   $ 22,038   $ 27,366   $ 43,325   $ 44,152   $ 33,005   $ 36,829  
                           

Ratio of earnings to fixed charges

     11.9     5.0     2.6     2.1     2.4     3.6  
(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.



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CLOUD PEAK RESOURCES LLC AND SUBSIDIARIES COMPUTATION OF HISTORICAL RATIOS OF EARNINGS TO FIXED CHARGES(1) (in thousands, except ratio data)