Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - PARKER DRILLING CO /DE/ | Financial_Report.xls |
EX-31.1 - EXHIBIT 31.1 - PARKER DRILLING CO /DE/ | pkd-3312015xexx311.htm |
EX-31.2 - EXHIBIT 31.2 - PARKER DRILLING CO /DE/ | pkd-3312015xexx312.htm |
EX-32.2 - EXHIBIT 32.2 - PARKER DRILLING CO /DE/ | pkd-3312015xexx322.htm |
10-Q - 10-Q - PARKER DRILLING CO /DE/ | pkd-3312015x10qxq1.htm |
EX-32.1 - EXHIBIT 32.1 - PARKER DRILLING CO /DE/ | pkd-3312015xexx321.htm |
EXHIBIT 12.1
Parker Drilling Company
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
Three Months Ended | Fiscal Year Ended December 31, | ||||||||||||||||
March 31, 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||
Pretax Income | 3,596 | 48,537 | 52,787 | 70,977 | (65,412 | ) | 11,505 | ||||||||||
Fixed Charges | 11,210 | 45,436 | 50,196 | 43,782 | 41,865 | 40,294 | |||||||||||
Amortization of Capitalized Interest | 939 | 3,939 | 4,058 | 1,887 | 1,557 | 1,819 | |||||||||||
Capitalized Interest | (132 | ) | (1,171 | ) | (2,376 | ) | (10,240 | ) | (19,271 | ) | (13,489 | ) | |||||
Earnings before Income Tax & Fixed Charges | 15,613 | 96,741 | 104,665 | 106,406 | (41,261 | ) | 40,129 | ||||||||||
Interest Expense | 11,078 | 44,265 | 47,820 | 33,542 | 22,594 | 26,805 | |||||||||||
Capitalized Interest | 132 | 1,171 | 2,376 | 10,240 | 19,271 | 13,489 | |||||||||||
Total Fixed Charges | 11,210 | 45,436 | 50,196 | 43,782 | 41,865 | 40,294 | |||||||||||
Ratio of Earnings to Fixed Charges | 1.4x | 2.1x | 2.1x | 2.4x | (1 | ) | 1x |
(1) For the year ended December 31, 2011, earnings were deficient to cover fixed charges by $41.3 million, which was primarily due to a pre-tax, non-cash charge to earnings of $170.0 million related to the impairment of our two Alaska rigs.