EX-12.1 3 d139582dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Range Resources Corporation

Calculation of Ratio of Earnings to Fixed Charges

(in thousands except ratios)

The following table sets forth our ratio of earnings to fixed charges for the periods indicated:

 

     Years Ended
December 31,
 
     2015     2014      2013      2012      2011  

EARNINGS

             

(Loss) income from continuing operations before provision (benefit) for income taxes

   $ (1,052,362   $ 1,030,885       $ 149,579       $ 25,056       $ 78,263   

Share of distributed income of equity method investments (net of equity method income or loss)

     5,897        5,478         4,739         13,122         24,544   

Fixed charges

     171,686        173,366         180,880         173,352         145,981   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total (loss) earnings

     (874,779   $ 1,209,729       $ 335,198         211,530       $ 248,788   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

FIXED CHARGES:

             

Interest expense(1)

   $ 166,439      $ 168,977       $ 176,557       $ 168,798       $ 139,843   

Interest portion of rental expense

     5,247        4,389         4,323         4,554         6,138   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 171,686      $ 173,366       $ 180,880       $ 173,352       $ 145,981   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Ratio of earnings to fixed charges

     *        7.0         1.9         1.2         1.7   

 

 

(1) Amortization of debt issuance costs is included in interest expense.
* Earnings were inadequate to cover fixed charges for the year ended December 31, 2015 by $1.0 billion.