EX-12.1 4 pv108137ex121.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)

 

 

2001

 

2002

 

2003

 

2004

 

2005

 

Three Months
Ended
March 31,
2006

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income*

 

$

54,271

 

$

29,705

 

$

55,987

 

$

72,779

 

$

130,918

 

$

43,396

 

Fixed charges

 

 

4,058

 

 

4,068

 

 

8,379

 

 

11,067

 

 

20,755

 

 

5,865

 

 

 

 

 

 

 

 

 

Total earnings

 

$

58,329

 

$

33,773

 

$

64,366

 

$

83,846

 

$

151,673

 

$

49,261

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense**

 

$

3,596

 

$

3,125

 

$

7,352

 

$

9,679

 

$

18,815

 

$

5,178

 

Rental interest factor

 

 

462

 

 

943

 

 

1,027

 

 

1,388

 

 

1,940

 

 

687

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

4,058

 

$

4,068

 

$

8,379

 

$

11,067

 

$

20,755

 

$

5,865

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

14.4x

 

 

8.3x

 

 

7.7x

 

 

7.6x

 

 

7.3x

 

 

8.4x

 

*

Excludes equity earnings from investees and includes capitalized interest.

**

Includes capitalized interest.