EX-12.1 3 l09364aexv12w1.txt EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 BELDEN & BLAKE CORPORATION RATIOS OF EARNINGS TO FIXED CHARGES (CONTINUING OPERATIONS ONLY)
SIX MONTHS ENDED YEAR ENDED DECEMBER 31, JUNE 30, 2004 ------------------------------------------------ ---------------------- 1999 2000 2001 2002 2003 HISTORICAL PRO FORMA -------- ------- ------- ------- ------- ---------- --------- (UNAUDITED, (IN THOUSANDS) IN THOUSANDS) Income from continuing operations before income taxes............. $(27,576) $ 7,316 $ 7,012 $14,185 $ 9,170 $ 7,559 $ 4,333 Fixed charges: Interest expense................ 31,991 27,288 25,055 22,506 23,580 12,184 11,271 Interest portion of rent expense...................... 909 747 762 802 975 563 563 Amortization of debt issuance costs........................ 3,772 3,028 2,098 1,528 1,242 627 784 -------- ------- ------- ------- ------- ------- ------- Total fixed charges.......... 36,672 31,063 27,915 24,836 25,797 13,374 12,618 -------- ------- ------- ------- ------- ------- ------- Earnings before income taxes and fixed charges................... $ 9,096 $38,379 $34,927 $39,021 $34,967 $20,933 $16,951 ======== ======= ======= ======= ======= ======= ======= Ratio of earnings to fixed charges......................... 0.2x 1.2x 1.3x 1.6x 1.4x 1.6x 1.3x ======== ======= ======= ======= ======= ======= =======