EX-12.1 3 d17067exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1

Range Resources Corporation
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)

                                                         
    Six Months                        
    Ended                        
    June 30,                        
    2004
  2003
  2002
  2001
  2000
  1999
  1998
EARNINGS:
                                                       
Income before provision for incomes taxes
  $ 23,575     $ 49,413     $ 22,408     $ 17,257     $ 35,004     $ (22,772 )   $ (229,618 )
Add: Fixed charges
    9,039       22,693       23,715       32,732       40,475       47,436       40,840  
 
   
 
     
 
     
 
     
 
     
 
     
 
     
 
 
Total earnings
  $ 32,614     $ 72,106     $ 46,123     $ 49,989     $ 75,479     $ 24,664     $ (188,778 )
 
   
 
     
 
     
 
     
 
     
 
     
 
     
 
 
FIXED CHARGES:
                                                       
Interest expense
  $ 8,567     $ 22,165     $ 23,153     $ 32,179     $ 39,953     $ 47,085     $ 40,642  
Amortization of debt issuance costs (1)
 
Interest portion of rental expense
    472       528       562       553       522       351       198  
 
   
 
     
 
     
 
     
 
     
 
     
 
     
 
 
Total fixed charges
  $ 9,039     $ 22,693     $ 23,715     $ 32,732     $ 40,475     $ 47,436     $ 40,840  
 
   
 
     
 
     
 
     
 
     
 
     
 
     
 
 
Ratio of earnings to fixed charges
    3.6       3.2       1.9       1.5       1.9       0.5       (4.6 )

(1)   Amortization of debt issuance costs is included in interest expense.

For the year ended December 31, 1999 and 1998, earnings were inadequate to cover fixed charges by $22.8 million and $229.6 million, respectively.