Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - Valaris Ltd | esv-9302017xexhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - Valaris Ltd | esv-9302017xexhibit321.htm |
| EX-31.2 - EXHIBIT 31.2 - Valaris Ltd | esv-9302017xexhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - Valaris Ltd | esv-9302017xexhibit311.htm |
| EX-15.1 - EXHIBIT 15.1 - Valaris Ltd | esv-9302017xexhibit151.htm |
| 10-Q - 10-Q - Valaris Ltd | esv-9302017x10q.htm |
ENSCO PLC AND SUBSIDIARIES
Statement of Calculation of Ratios of Earnings to Fixed Charges
(In millions, except ratios)
(Unaudited)
Nine Months Ended September 30, 2017 | Year Ended December 31, | ||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Earnings | |||||||||||||||||||||||
(Loss) income from continuing operations before income tax | $ | (29.9 | ) | $ | 997.5 | $ | (1,471.2 | ) | $ | (2,548.8 | ) | $ | 1,633.2 | $ | 1,304.7 | ||||||||
Fixed charges deducted from income from continuing operations | 229.2 | 284.4 | 323.2 | 260.4 | 245.3 | 247.3 | |||||||||||||||||
Amortization of capitalized interest | 13.0 | 16.4 | 18.2 | 17.0 | 13.3 | 12.3 | |||||||||||||||||
Less: | |||||||||||||||||||||||
Loss (income) from continuing operations before income tax attributable to noncontrolling interests | 0.6 | (7.7 | ) | (10.5 | ) | (15.5 | ) | (9.7 | ) | (7.4 | ) | ||||||||||||
Interest capitalized | (54.9 | ) | (45.7 | ) | (87.4 | ) | (78.2 | ) | (67.7 | ) | (105.8 | ) | |||||||||||
158.0 | 1,244.9 | (1,227.7 | ) | (2,365.1 | ) | 1,814.4 | 1,451.1 | ||||||||||||||||
Fixed Charges | |||||||||||||||||||||||
Interest on indebtedness, including amortization of deferred loan costs | 167.0 | 228.8 | 216.3 | 161.4 | 158.8 | 123.6 | |||||||||||||||||
Estimated interest within rental expense | 7.3 | 9.9 | 19.5 | 20.8 | 18.8 | 17.9 | |||||||||||||||||
Fixed charges deducted from income from continuing operations | 174.3 | 238.7 | 235.8 | 182.2 | 177.6 | 141.5 | |||||||||||||||||
Interest capitalized | 54.9 | 45.7 | 87.4 | 78.2 | 67.7 | 105.8 | |||||||||||||||||
Total | $ | 229.2 | $ | 284.4 | $ | 323.2 | $ | 260.4 | $ | 245.3 | $ | 247.3 | |||||||||||
Ratio of Earnings to Fixed Charges | (a) | 4.4 | (b) | (b) | 7.4 | 5.9 | |||||||||||||||||
(a) | For the nine month period ended September 30, 2017, our earnings were inadequate to cover our fixed charges by $71.2 million. |
(b) | For the year ended December 31, 2015 and December 31, 2014, our earnings were inadequate to cover our fixed charges by $1,550.9 and $2,625.5 million, respectively. Net loss from continuing operations before income taxes of $1,471.2 million and $2,548.8 million for the years ended December 31, 2015 and December 31, 2014 included a non-cash loss on impairment of $2,746.4 million and $4,218.7 million, respectively. |