Attached files

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10-K - FORM 10-K - DIAMOND OFFSHORE DRILLING, INC.d529539d10k.htm
EX-32.1 - EX-32.1 - DIAMOND OFFSHORE DRILLING, INC.d529539dex321.htm
EX-31.2 - EX-31.2 - DIAMOND OFFSHORE DRILLING, INC.d529539dex312.htm
EX-31.1 - EX-31.1 - DIAMOND OFFSHORE DRILLING, INC.d529539dex311.htm
EX-23.1 - EX-23.1 - DIAMOND OFFSHORE DRILLING, INC.d529539dex231.htm
EX-21.1 - EX-21.1 - DIAMOND OFFSHORE DRILLING, INC.d529539dex211.htm

Exhibit 12.1

DIAMOND OFFSHORE DRILLING, INC.

Statement re Computation of Ratios

(In Thousands of Dollars)

Ratio of Earnings (Losses) to Fixed Charges:

 

     Year Ended December 31,  
     2017     2016     2015     2014     2013  

Computation of (Losses) Earnings:

          

Pretax (loss) income from continuing operations

   $ (21,440   $ (468,299   $ (381,348   $ 515,191     $ 774,240  

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

     (90     (20,814     (16,308     (60,603     (74,237

Add: Previously capitalized interest amortized during the period

     10,792       9,302       8,722       5,082       3,400  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total (losses) earnings, before fixed charge addition

     (10,738     (479,811     (388,934     459,670       703,403  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Computation of Fixed Charges:

          

Interest, including interest capitalized

     117,192       113,869       112,812       126,160       103,547  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     117,192       113,869       112,812       126,160       103,547  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings (Losses) and Fixed Charges

   $ 106,454     $ (365,942   $ (276,122   $ 585,830     $ 806,950  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings (Losses) to Fixed Charges(1)

     0.91       (3.21 )(2)      (2.45 )(2)      4.64       7.79  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(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.