Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - GULFMARK OFFSHORE INC | Financial_Report.xls |
| 10-K - FORM 10-K - GULFMARK OFFSHORE INC | h78368e10vk.htm |
| EX-31.2 - EX-31.2 - GULFMARK OFFSHORE INC | h78368exv31w2.htm |
| EX-32.2 - EX-32.2 - GULFMARK OFFSHORE INC | h78368exv32w2.htm |
| EX-31.1 - EX-31.1 - GULFMARK OFFSHORE INC | h78368exv31w1.htm |
| EX-23.1 - EX-23.1 - GULFMARK OFFSHORE INC | h78368exv23w1.htm |
| EX-32.1 - EX-32.1 - GULFMARK OFFSHORE INC | h78368exv32w1.htm |
| EX-21.1 - EX-21.1 - GULFMARK OFFSHORE INC | h78368exv21w1.htm |
| EX-10.36 - EX-10.36 - GULFMARK OFFSHORE INC | h78368exv10w36.htm |
| EX-10.37 - EX-10.37 - GULFMARK OFFSHORE INC | h78368exv10w37.htm |
| EX-10.40 - EX-10.40 - GULFMARK OFFSHORE INC | h78368exv10w40.htm |
| EX-10.34 - EX-10.34 - GULFMARK OFFSHORE INC | h78368exv10w34.htm |
| EX-10.35 - EX-10.35 - GULFMARK OFFSHORE INC | h78368exv10w35.htm |
| EX-10.38 - EX-10.38 - GULFMARK OFFSHORE INC | h78368exv10w38.htm |
| EX-10.39 - EX-10.39 - GULFMARK OFFSHORE INC | h78368exv10w39.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(Dollars in thousands)
| Year Ended December 31, | ||||||||||||||||||||
| 2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||||||
Income (Loss) from Continuing Operations |
$ | 89,729 | $ | 98,975 | $ | 183,784 | $ | 50,583 | $ | (34,745 | ) | |||||||||
Plus: Income Taxes |
3,052 | 30,220 | 11,743 | (2,087 | ) | (12,701 | ) | |||||||||||||
Fixed Charges |
18,272 | 14,424 | 23,412 | 24,560 | 23,833 | |||||||||||||||
Less: Capitalized Interest |
(2,400 | ) | (6,200 | ) | (8,516 | ) | (3,612 | ) | (1,421 | ) | ||||||||||
Earnings Before Fixed Charges |
108,653 | 137,419 | 210,423 | 69,444 | (25,034 | ) | ||||||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest Expense |
$ | 15,648 | $ | 7,923 | $ | 14,291 | $ | 20,281 | $ | 21,693 | ||||||||||
Capitalized Interest |
2,400 | 6,200 | 8,516 | 3,612 | 1,421 | |||||||||||||||
Estimated Portion of Rental Expense Equivalent to Interest |
224 | 301 | 605 | 667 | 719 | |||||||||||||||
Total Fixed Charges |
18,272 | 14,424 | 23,412 | 24,560 | 23,833 | |||||||||||||||
Ratio of Earnings to Fixed Charges |
5.95 | 9.53 | 8.99 | 2.83 | NA | |||||||||||||||
NA – The ratio is less than 1.0. A deficiency of $48.9 million exists for the year ended
December 31, 2010. The calculation of earnings includes $60.0 million of non-cash depreciation and amortization
expense and $97.7 million of impairment.