EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CALCULATION. Statement of Computation of Ratio of Earnings to Fixed Charges Calculation.

Exhibit 12.1

Penn Virginia Corporation and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

(in thousands, except ratios)

 

     Year Ended December 31,
     2004    2005    2006    2007    2008

Earnings

               

Pre-tax income *

    $ 72,779    $ 130,918    $ 167,080    $ 106,818    $ 256,025

Fixed charges

      11,067      20,755      31,313      47,689      54,634
                                  

Total earnings

    $ 83,846    $ 151,673    $ 198,393    $ 154,507    $ 310,659
                                  

Fixed Charges

               

Interest expense

    $ 9,679    $ 18,815    $ 27,984    $ 42,371    $ 46,972

Rental interest factor

      1,388      1,940      3,329      5,318      7,662
                                  

Total fixed charges

    $ 11,067    $ 20,755    $ 31,313    $ 47,689    $ 54,634
                                  

Ratio of earnings to fixed charges

      7.6x      7.3x      6.3x      3.2x      5.7x

 

* Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest.