EX-12 4 pvc107936ex12.htm EXHIBIT 12

Exhibit 12

Penn Virginia Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges Calculation
(in thousands, except ratios)

 

 

2000

 

2001

 

2002

 

2003

 

2004

 

Nine Months
Ended
Septaember 30,
2005

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income*

 

$

59,230

 

$

54,271

 

$

29,705

 

$

55,987

 

$

72,779

 

$

78,764

 

Fixed charges

 

 

8,363

 

 

4,058

 

 

4,068

 

 

8,379

 

 

11,067

 

 

14,759

 

 

 

 

 

 

 

 

 

Total earnings

 

$

67,593

 

$

58,329

 

$

33,773

 

$

64,366

 

$

83,846

 

$

93,523

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense**

 

$

7,926

 

$

3,596

 

$

3,125

 

$

7,352

 

$

9,679

 

 

13,496

 

Rental interest factor

 

 

437

 

 

462

 

 

943

 

 

1,027

 

 

1,388

 

 

1,263

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

8,363

 

$

4,058

 

$

4,068

 

$

8,379

 

$

11,067

 

$

14,759

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

8.1x

 

 

14.4x

 

 

8.3x

 

 

7.7x

 

 

7.6x

 

 

6.3x

 

*

Excludes equity earnings from investees and includes capitalized interest.

**

Includes capitalized interest.