Weatherford International plc - FORM 10-K - EX-12.1 - EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES - February 16, 2016

Attached files

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EX-23.1 - EXHIBIT 23.1 KPMG CONSENT - Weatherford International plcex231-kpmgconsentwft123115.htm
EX-21.1 - EXHIBIT 21.1 SIGNIFICANT SUBSIDIARIES - Weatherford International plcex211-significantsubswft12.htm
EX-31.2 - EXHIBIT 31.2 CFO 302 CERTIFICATION - Weatherford International plcex312cfo302certwft123115.htm
EX-32.2 - EXHIBIT 32.2 CFO 906 CERTIFICATION - Weatherford International plcex322cfo906certwft123115.htm
EX-32.1 - EXHIBIT 32.1 CEO 906 CERTIFICATION - Weatherford International plcex321ceo906certwft123115.htm
EX-31.1 - EXHIBIT 31.1 CEO 302 CERTIFICATION - Weatherford International plcex311ceo302certwft123115.htm
EX-10.21 - EXHIBIT 10.21 2010 OMNIBUS INCENTIVE PLAN RSU AWARD AGREEMENT - Weatherford International plcex1021wft2010omnibusincent.htm
EX-10.28 - EXHIBIT 10.28 2010 OMNIBUS INCENTIVE PLAN PERFORMANCE UNITS AWARD AGREEMENT - Weatherford International plcex1028wft2010omnibusincent.htm
10-K - 10-K WFT 2015 FORM 10-K - Weatherford International plcwft201510-k.htm
EX-10.33 - EXHIBIT 10.33 AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT - Weatherford International plcex1033amendedandrestatedex.htm


Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
 
 
Year Ended December 31,
(Dollars in millions except ratios)
 
2015
 
2014
 
2013
 
2012
 
2011
Income (Loss) from continuing operations before income taxes (a)
 
$
(2,099
)
 
$
(261
)
 
$
(207
)
 
$
(339
)
 
$
727

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense (b)
 
474

 
507

 
524

 
492

 
462

Capitalized Interest
 
1

 
5

 
4

 
10

 
10

Interest factor portion of rentals (c)
 
114

 
132

 
131

 
111

 
81

Total fixed charges
 
589

 
644

 
659

 
613

 
553

Less: Capitalized Interest
 
(1
)
 
(5
)
 
(4
)
 
(10
)
 
(10
)
Earnings before income taxes and fixed charges
 
$
(1,511
)
 
$
378

 
$
448

 
$
264

 
$
1,270

Ratio of earnings to fixed charges (d)
 
—

 
—

 
—

 
—

 
2.30

(a)
Income from continuing operations before income taxes has been adjusted to include only distributed income of less-than-fifty-percent-owned persons.
(b)
Interest expense consists of interest expense incurred from continuing operations and amortization of debt issuance costs.
(c)
Interest factor portion of rentals is estimated to be one-third of rental expense.
(d)
For the years ended December 31, 2015, 2014, 2013 and 2012, earnings, as defined, before fixed charges were inadequate to cover fixed charges by $2.1 billion, $266 million, $211 million and $349 million, respectively.





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