Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex322_30.htm |
| EX-32.1 - EX-32.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex321_29.htm |
| EX-31.2 - EX-31.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex312_32.htm |
| EX-31.1 - EX-31.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex311_31.htm |
| EX-23.1 - EX-23.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex231_33.htm |
| EX-21.1 - EX-21.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex211_28.htm |
| 10-K - 10-K - MCDERMOTT INTERNATIONAL INC | mdr-10k_20171231.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Our ratio of earnings to fixed charges is as follows (in thousands):
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|||||
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations before provision for income taxes and noncontrolling interest |
$ |
245,931 |
|
|
$ |
78,225 |
|
|
$ |
43,124 |
|
|
$ |
(45,321 |
) |
|
$ |
(440,859 |
) |
|
Interest expense and other |
|
65,467 |
|
|
|
63,399 |
|
|
|
57,894 |
|
|
|
62,919 |
|
|
|
5,748 |
|
|
Portion of rents representative of the interest factor(1) |
|
14,834 |
|
|
|
11,994 |
|
|
|
13,480 |
|
|
|
35,516 |
|
|
|
38,850 |
|
|
|
$ |
326,232 |
|
|
$ |
153,618 |
|
|
$ |
114,498 |
|
|
$ |
53,114 |
|
|
$ |
(396,261 |
) |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, including amount capitalized |
$ |
67,062 |
|
|
$ |
74,624 |
|
|
$ |
73,603 |
|
|
$ |
85,361 |
|
|
$ |
8,886 |
|
|
Portion of rents representative of the interest factor(1) |
|
14,834 |
|
|
|
11,994 |
|
|
|
13,480 |
|
|
|
35,516 |
|
|
|
38,850 |
|
|
|
$ |
81,896 |
|
|
$ |
86,618 |
|
|
$ |
87,083 |
|
|
$ |
120,877 |
|
|
$ |
47,736 |
|
|
Ratio of earnings to fixed charges(2) |
3.98x |
|
|
1.77x |
|
|
1.31x |
|
|
— |
|
|
— |
|
|||||
|
(1) |
33% of rental expense |
|
(2) |
For 2014 and 2013, earnings were deficient to cover fixed charges by $67,763 and $443,997, respectively, primarily as a result of operating losses. |