Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - MCDERMOTT INTERNATIONAL INC | mdr-10q_20180331.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_9.htm |
| EX-31.2 - EX-31.2 - MCDERMOTT INTERNATIONAL INC | mdr-ex312_10.htm |
| EX-31.1 - EX-31.1 - MCDERMOTT INTERNATIONAL INC | mdr-ex311_8.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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Three Months |
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Ended |
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March 31, 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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$ |
54,837 |
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$ |
245,931 |
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$ |
78,225 |
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$ |
43,124 |
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$ |
(45,321 |
) |
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Interest expense and other |
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12,365 |
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65,467 |
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63,399 |
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57,894 |
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62,919 |
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Portion of rents representative of the interest factor(1) |
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3,183 |
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14,834 |
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11,994 |
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13,480 |
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35,516 |
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70,385 |
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326,232 |
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153,618 |
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114,498 |
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53,114 |
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Fixed charges: |
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Interest expense, including amount capitalized |
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12,900 |
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67,062 |
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74,624 |
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73,603 |
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85,361 |
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Portion of rents representative of the interest factor(1) |
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3,183 |
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14,834 |
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11,994 |
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13,480 |
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35,516 |
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$ |
16,083 |
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$ |
81,896 |
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$ |
86,618 |
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$ |
87,083 |
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$ |
120,877 |
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Ratio of earnings to fixed charges(2) |
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4.38x |
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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 $67,763, primarily as a result of operating losses. |