Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - Valaris Ltd | esv-6302015xexhibit311.htm |
| EX-32.1 - EXHIBIT 32.1 - Valaris Ltd | esv-6302015xexhibit321.htm |
| EX-32.2 - EXHIBIT 32.2 - Valaris Ltd | esv-6302015xexhibit322.htm |
| EX-31.2 - EXHIBIT 31.2 - Valaris Ltd | esv-6302015xexhibit312.htm |
| EX-15.1 - EXHIBIT 15.1 - Valaris Ltd | esv-6302015xexhibit151.htm |
| 10-Q - 10-Q - Valaris Ltd | esv-6302015x10q.htm |
ENSCO PLC AND SUBSIDIARIES
Statement of Calculation of Ratios of Earnings to Fixed Charges
(In millions, except ratios)
(Unaudited)
Six Months Ended June 30, 2015 | Year Ended December 31, | ||||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Earnings | |||||||||||||||||||||||
Income (loss) from continuing operations before income tax | $ | 736.6 | $ | (2,548.8 | ) | $ | 1,633.2 | $ | 1,304.7 | $ | 673.5 | $ | 494.7 | ||||||||||
Fixed charges deducted from income from continuing operations | 160.3 | 260.4 | 245.3 | 247.3 | 187.6 | 26.6 | |||||||||||||||||
Amortization of capitalized interest | 8.7 | 17.0 | 13.3 | 12.3 | 6.7 | 4.5 | |||||||||||||||||
Less: | |||||||||||||||||||||||
Income from continuing operations before income tax attributable to noncontrolling interests | (6.8 | ) | (15.5 | ) | (9.7 | ) | (7.4 | ) | (5.8 | ) | (7.7 | ) | |||||||||||
Interest capitalized | (46.4 | ) | (78.2 | ) | (67.7 | ) | (105.8 | ) | (80.2 | ) | (21.3 | ) | |||||||||||
852.4 | (2,365.1 | ) | 1,814.4 | 1,451.1 | 781.8 | 496.8 | |||||||||||||||||
Fixed Charges | |||||||||||||||||||||||
Interest on indebtedness, including amortization of deferred loan costs | 103.6 | 161.4 | 158.8 | 123.6 | 95.9 | — | |||||||||||||||||
Estimated interest within rental expense | 10.3 | 20.8 | 18.8 | 17.9 | 11.5 | 5.3 | |||||||||||||||||
Fixed charges deducted from income from continuing operations | 113.9 | 182.2 | 177.6 | 141.5 | 107.4 | 5.3 | |||||||||||||||||
Interest capitalized | 46.4 | 78.2 | 67.7 | 105.8 | 80.2 | 21.3 | |||||||||||||||||
Total | $ | 160.3 | $ | 260.4 | $ | 245.3 | $ | 247.3 | $ | 187.6 | $ | 26.6 | |||||||||||
Ratio of Earnings to Fixed Charges | 5.3 | (a) | 7.4 | 5.9 | 4.2 | 18.7 | |||||||||||||||||
(a) | For the year ended December 31, 2014, our earnings were inadequate to cover our fixed charges by $2,625.5 million. Net loss from continuing operations before income taxes of $2,548.8 million for the year ended December 31, 2014 included a non-cash loss on impairment of $4,218.7 million recorded during the period. |