EX-12.1 8 d08736exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 Range Resources Corporation Computation of Ratio of Earnings to Fixed Charges (in thousands except ratios)
Six Months Ended June 30, 2003 2002 2001 2000 1999 1998 ---------- ---------- ---------- ---------- ---------- ---------- EARNINGS: Income before provision for incomes taxes $ 16,108 $ 22,408 $ 17,257 $ 35,004 $ (22,772) $ (229,618) Add: Fixed charges 10,986 23,715 32,732 40,475 47,436 40,840 ---------- ---------- ---------- ---------- ---------- ---------- Total earnings $ 27,094 $ 46,123 $ 49,989 $ 75,479 $ 24,664 $ (188,778) ========== ========== ========== ========== ========== ========== FIXED CHARGES: Interest expense $ 10,719 $ 23,153 $ 32,179 $ 39,953 $ 47,085 $ 40,642 Amortization of debt issuance costs (1) Interest portion of rental expense 267 562 553 522 351 198 ---------- ---------- ---------- ---------- ---------- ---------- Total fixed charges $ 10,986 $ 23,715 $ 32,732 $ 40,475 $ 47,436 $ 40,840 ========== ========== ========== ========== ========== ========== Ratio of earnings to fixed charges 2.5 1.9 1.5 1.9 0.5 (4.6)
(1) Amortization of debt issuance costs is included in interest expense. For the years ended December 31, 1999 and 1998, earnings were inadequate to cover fixed charges by $22.8 million and $229.6 million, respectively.