Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - DIAMOND OFFSHORE DRILLING, INC. | d432281dex991.htm |
| 8-K - FORM 8-K - DIAMOND OFFSHORE DRILLING, INC. | d432281d8k.htm |
Exhibit 12.1
DIAMOND OFFSHORE DRILLING, INC.
Statement of Computation of Ratio of Earnings to Fixed Charges
(In Thousands of Dollars)
Ratio of (Losses) Earnings to Fixed Charges:
| Six Months Ended June 30, 2017 |
Year Ended December 31, | |||||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
| Computation of (Losses) Earnings: |
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| Pretax (loss) income from continuing operations |
$ | 17,442 | $ | (468,299 | ) | $ | (381,348 | ) | $ | 515,191 | $ | 774,240 | $ | 918,081 | ||||||||||
| Less: Interest capitalized during the period and actual preferred dividend requirements of majority-owned subsidiaries and 50%-owned persons included in fixed charges but not deducted from pretax income from above |
(3 | ) | (20,814 | ) | (16,308 | ) | (60,603 | ) | (74,237 | ) | (37,674 | ) | ||||||||||||
| Add: Previously capitalized interest amortized during the period |
5,396 | 9,302 | 8,722 | 5,082 | 3,400 | 3,400 | ||||||||||||||||||
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| Total (losses) earnings, before fixed charge addition |
22,835 | (479,811 | ) | (388,934 | ) | 459,670 | 703,403 | 883,807 | ||||||||||||||||
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| Computation of Fixed Charges: |
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| Interest, including interest capitalized |
56,592 | 113,869 | 112,812 | 126,160 | 103,547 | 87,449 | ||||||||||||||||||
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| Total fixed charges |
56,592 | 113,869 | 112,812 | 126,160 | 103,547 | 87,449 | ||||||||||||||||||
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| Total (Losses) Earnings and Fixed Charges |
$ | 79,427 | $ | (365,942 | ) | $ | (276,122 | ) | $ | 585,830 | $ | 806,950 | $ | 971,256 | ||||||||||
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| Ratio of (Losses) Earnings to Fixed Charges(1) |
1.40 | (3.21 | )(2) | (2.45 | )(2) | 4.64 | 7.79 | 11.11 | ||||||||||||||||
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| (1) | For purposes of this ratio, fixed charges include (i) interest, whether expensed or capitalized, (ii) amortization of debt issuance costs, whether expensed or capitalized, and (iii) a portion of rent expense, which we believe represents the interest factor attributable to rent. |
| (2) | The deficiency in our earnings available for fixed charges for the years ended December 31, 2016 and 2015 was $479.8 million and $388.9 million, respectively. |