EX-12.1 6 h67238exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Range Resources Corporation
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and
Preferred Stock Dividends
(in thousands except ratios)
                                                 
  Three months ended
  March 31
    2009     2008     2007     2006     2005     2004  
EARNINGS:
                                               
Income from continuing operations before provision for income taxes
  $ 51,435     $ 542,594     $ 265,737     $ 315,701     $ 175,985     $ 68,310  
Share of distributed income of equity method investments (net of equity method income or loss)
    919       419       (974     (548            
Fixed charges
  27,362     102,784     79,519     57,466     38,312     31,160  
 
                                               
Total earnings
  $ 79,716     $ 645,797     $ 344,282     $ 372,619     $ 214,297     $ 99,470  
 
                                               
FIXED CHARGES:
                                               
Interest expense(1)
  $ 26,629     $ 99,748     $ 77,737     $ 55,849     $ 37,619     $ 22,437  
Interest portion of rental expense
  733     3,036     1,782     1,617     693     528  
Preferred dividends(2)(3)
                      8,195  
 
                                               
Total fixed charges
  $ 27,362     $ 102,784     $ 79,519     $ 57,466     $ 38,312     $ 31,160  
 
                                               
Ratio of earnings to fixed charges
    2.9       6.3       4.3       6.5       5.6       4.0  
Ratio of earnings to combined fixed charges and preferred stock dividends(2)
  2.9     6.3     4.3     6.5     5.6     3.2  
 
(1)   Amortization of debt issuance costs is included in interest expense
 
(2)   Calculated as the dollar amount of the dividend divided by one minus the effective income tax rate of 37%
 
(3)   This line and its impact on total fixed charges and total earnings is only applicable to the ratio of earnings to combined fixed charges and Preferred Stock Dividends