Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - MCDERMOTT INTERNATIONAL INC | mdr-10q_20180930.htm |
| EX-32.2 - EX-32.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex322_6.htm |
| EX-32.1 - EX-32.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex321_7.htm |
| EX-31.2 - EX-31.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex312_9.htm |
| EX-31.1 - EX-31.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex311_8.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
(In millions)
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, 2018 |
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2017 |
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2016 |
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2015 |
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2014 |
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Earnings: |
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Income (loss) from continuing operations before provision for income taxes and noncontrolling interest |
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$ |
60 |
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$ |
246 |
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$ |
78 |
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$ |
43 |
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$ |
(45 |
) |
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Interest expense and other |
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153 |
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65 |
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|
64 |
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58 |
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|
63 |
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Portion of rents representative of the interest factor(1) |
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21 |
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15 |
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12 |
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13 |
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36 |
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234 |
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326 |
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154 |
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114 |
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54 |
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Fixed charges: |
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Interest expense, including amount capitalized |
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168 |
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67 |
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75 |
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74 |
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85 |
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Portion of rents representative of the interest factor(1) |
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21 |
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15 |
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12 |
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13 |
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36 |
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$ |
189 |
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$ |
82 |
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$ |
87 |
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$ |
87 |
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$ |
121 |
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Ratio of earnings to fixed charges(2) |
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1.24x |
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3.98x |
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1.77x |
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1.31x |
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— |
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(1) |
33% of rental expense. |
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(2) |
For the year ended December 31, 2014, earnings were deficient to cover fixed charges by $68 million, primarily as a result of operating losses. |