EX-12.1 8 pc108137ex121.htm EXHIBIT 12.1

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,

 

 

 

 

 

 

2001

 

2002

 

2003

 

2004

 

2005

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income

 

$

54,271

 

$

29,705

 

$

55,987

 

$

72,779

 

$

130,918

 

Fixed charges

 

 

4,058

 

 

4,068

 

 

8,379

 

 

11,067

 

 

20,755

 

 

 

 

 

 

 

 

Total earnings

 

$

58,329

 

$

33,773

 

$

64,366

 

$

83,846

 

$

151,673

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

3,596

 

$

3,125

 

$

7,352

 

$

9,679

 

$

18,815

 

Rental interest factor

 

 

462

 

 

943

 

 

1,027

 

 

1,388

 

 

1,940

 

 

 

 

 

 

 

 

Total fixed charges

 

$

4,058

 

$

4,068

 

$

8,379

 

$

11,067

 

$

20,755

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

14.4 x

 

 

8.3 x

 

 

7.7 x

 

 

7.6 x

 

 

7.3x