Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex322_9.htm |
| EX-32.1 - EX-32.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex321_10.htm |
| EX-31.2 - EX-31.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex312_7.htm |
| EX-31.1 - EX-31.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex311_11.htm |
| EX-4.1 - EX-4.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex41_439.htm |
| 10-Q - 10-Q - MCDERMOTT INTERNATIONAL INC | mdr-10q_20170930.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Our ratio of earnings to fixed charges is as follows:
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Nine Months |
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Ended |
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September 30, 2017 |
|
|
2016 |
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2015 |
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2014 |
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2013 |
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|||||
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Earnings: |
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Income (loss) from continuing operations before provision for income taxes and noncontrolling interest |
|
$ |
206,801 |
|
|
$ |
78,225 |
|
|
$ |
43,124 |
|
|
$ |
(45,321 |
) |
|
$ |
(440,859 |
) |
|
Interest expense and other |
|
|
52,794 |
|
|
|
63,399 |
|
|
|
57,894 |
|
|
|
62,919 |
|
|
|
5,748 |
|
|
Portion of rents representative of the interest factor(1) |
|
|
11,226 |
|
|
|
11,994 |
|
|
|
13,480 |
|
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|
35,516 |
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38,850 |
|
|
|
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|
270,821 |
|
|
|
153,618 |
|
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|
114,498 |
|
|
|
53,114 |
|
|
|
(396,261 |
) |
|
Fixed charges: |
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Interest expense, including amount capitalized |
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53,996 |
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|
74,624 |
|
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|
73,603 |
|
|
|
85,361 |
|
|
|
8,886 |
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|
Portion of rents representative of the interest factor(1) |
|
|
11,226 |
|
|
|
11,994 |
|
|
|
13,480 |
|
|
|
35,516 |
|
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|
38,850 |
|
|
|
|
$ |
65,222 |
|
|
$ |
86,618 |
|
|
$ |
87,083 |
|
|
$ |
120,877 |
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|
$ |
47,736 |
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|
Ratio of earnings to fixed charges(2) |
|
4.15x |
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|
1.77x |
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|
1.31x |
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— |
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— |
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(1) |
33% of rental expense |
|
(2) |
For the years ended December 31, 2014 and 2013, earnings were deficient to cover fixed charges by $67,763 and $443,997, respectively, primarily as a result of operating losses. |