Attached files
| file | filename |
|---|---|
| EX-31.1 - EX-31.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex311_6.htm |
| EX-32.2 - EX-32.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex322_8.htm |
| EX-32.1 - EX-32.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex321_9.htm |
| EX-31.2 - EX-31.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex312_10.htm |
| 10-Q - 10-Q - MCDERMOTT INTERNATIONAL INC | mdr-10q_20150930.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, 2015 |
|
|
2014 |
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|
2013 |
|
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2012 |
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2011 |
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|
2010 |
|
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Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations before provision for income taxes and noncontrolling interest |
$ |
39,680 |
|
|
$ |
(45,321 |
) |
|
$ |
(440,859 |
) |
|
$ |
330,942 |
|
|
$ |
314,657 |
|
|
$ |
303,516 |
|
|
Interest expense and other |
|
45,284 |
|
|
|
62,919 |
|
|
|
5,748 |
|
|
|
(372 |
) |
|
|
3,046 |
|
|
|
2,584 |
|
|
Portion of rents representative of the interest factor(1) |
|
10,512 |
|
|
|
35,516 |
|
|
|
38,850 |
|
|
|
20,239 |
|
|
|
17,977 |
|
|
|
15,955 |
|
|
|
$ |
95,476 |
|
|
$ |
53,114 |
|
|
$ |
(396,261 |
) |
|
$ |
350,809 |
|
|
$ |
335,680 |
|
|
$ |
322,055 |
|
|
Fixed charges: |
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Interest expense, including amount capitalized |
$ |
55,667 |
|
|
$ |
85,361 |
|
|
$ |
8,886 |
|
|
$ |
8,568 |
|
|
$ |
9,314 |
|
|
$ |
14,621 |
|
|
Portion of rents representative of the interest factor(1) |
|
10,512 |
|
|
|
35,516 |
|
|
|
38,850 |
|
|
|
20,239 |
|
|
|
17,977 |
|
|
|
15,955 |
|
|
|
$ |
66,179 |
|
|
$ |
120,877 |
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|
$ |
47,736 |
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|
$ |
28,807 |
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|
$ |
27,291 |
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|
$ |
30,576 |
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|
Ratio of earnings to fixed charges(2) |
1.44x |
|
|
— |
|
|
— |
|
|
12.18x |
|
|
12.30x |
|
|
10.53x |
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(1) |
33% of rental expense |