Attached files
| file | filename |
|---|---|
| 10-K - 10-K - Valaris Ltd | esv-20171231x10k.htm |
| EX-32.2 - EXHIBIT 32.2 - Valaris Ltd | esv-ex322x12312017.htm |
| EX-32.1 - EXHIBIT 32.1 - Valaris Ltd | esv-ex321x12312017.htm |
| EX-31.2 - EXHIBIT 31.2 - Valaris Ltd | esv-ex312x12312017.htm |
| EX-31.1 - EXHIBIT 31.1 - Valaris Ltd | esv-ex311x12312017.htm |
| EX-23.1 - EXHIBIT 23.1 - Valaris Ltd | esv-ex231x12312017.htm |
| EX-21.1 - EXHIBIT 21.1 - Valaris Ltd | esv-ex211x12312017.htm |
Exhibit 12.1
ENSCO PLC AND SUBSIDIARIES
Statement of Calculation of Ratios of Earnings to Fixed Charges
(In millions, except ratios)
(Unaudited)
Year Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Earnings | |||||||||||||||||||
Income (loss) from continuing operations before income tax | $ | (196.0 | ) | $ | 997.5 | $ | (1,471.2 | ) | $ | (2,548.8 | ) | $ | 1,633.2 | ||||||
Fixed charges deducted from income from continuing operations | 308.4 | 284.4 | 323.2 | 260.4 | 245.3 | ||||||||||||||
Amortization of capitalized interest | 17.6 | 16.4 | 18.2 | 17.0 | 13.3 | ||||||||||||||
Less: | |||||||||||||||||||
Income from continuing operations before income tax attributable to noncontrolling interests | 0.6 | (7.7 | ) | (10.5 | ) | (15.5 | ) | (9.7 | ) | ||||||||||
Interest capitalized | (72.5 | ) | (45.7 | ) | (87.4 | ) | (78.2 | ) | (67.7 | ) | |||||||||
58.1 | 1,244.9 | (1,227.7 | ) | (2,365.1 | ) | 1,814.4 | |||||||||||||
Fixed Charges | |||||||||||||||||||
Interest on indebtedness, including amortization of deferred loan costs | 224.2 | 228.8 | 216.3 | 161.4 | 158.8 | ||||||||||||||
Estimated interest within rental expense | 11.7 | 9.9 | 19.5 | 20.8 | 18.8 | ||||||||||||||
Fixed charges deducted from income from continuing operations | 235.9 | 238.7 | 235.8 | 182.2 | 177.6 | ||||||||||||||
Interest capitalized | 72.5 | 45.7 | 87.4 | 78.2 | 67.7 | ||||||||||||||
Total | $ | 308.4 | $ | 284.4 | $ | 323.2 | $ | 260.4 | $ | 245.3 | |||||||||
Ratio of Earnings to Fixed Charges | (a) | 4.4 | (a) | (a) | 7.4 | ||||||||||||||
(a) | For the years ended December 31, 2017, December 31, 2015 and December 31, 2014, our earnings were inadequate to cover our fixed charges by $250.3 million, $1,550.9 million and $2,625.5 million, respectively. Net loss from continuing operations before income taxes of $196.0 million, $1,471.2 million and $2,548.8 million for the years ended December 31, 2017, December 31, 2015 and December 31, 2014, respectively, included a non-cash loss on impairment of $182.9 million, $2,746.4 million and $4,218.7 million, respectively. |