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10-Q - 10-Q OCEANEERING INTERNATIONAL, INC. JUNE 30 2018 - OCEANEERING INTERNATIONAL INCoii_10qx06302018.htm
EX-32.02 - EXHIBIT 32.02 - OCEANEERING INTERNATIONAL INCoii_exhibitx3202x06302018.htm
EX-32.01 - EXHIBIT 32.01 - OCEANEERING INTERNATIONAL INCoii_exhibitx3201x06302018.htm
EX-31.02 - EXHIBIT 31.02 - OCEANEERING INTERNATIONAL INCoii_exhibitx3102x06302018.htm
EX-31.01 - EXHIBIT 31.01 - OCEANEERING INTERNATIONAL INCoii_exhibitx3101x06302018.htm


 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit 12.01
 
 
Oceaneering International, Inc.
Computation of Ratio of Earnings to Fixed Charges
($ in thousands)
 
 
 
 
 
Six Months Ended
 
Year Ended December 31,
 
 
 
 
 
Jun 30, 2018
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed Charges:
 
Interest expensed and capitalized
 
$
21,582

 
$
32,385

 
$
29,058

 
$
27,475

 
$
5,420

 
$
2,194

(1
)
Amortized premiums, discounts and capital expenses related to indebtedness
 

 

 

 

 
395

 
261

 
Estimate of interest within rental expense
 
12,912

 
32,426

 
68,396

 
76,381

 
85,632

 
63,735

 
Preference security dividend requirements of consolidated subsidiaries
 

 
 
 
 
 

 

 

 
 
 
 
 
$
34,494

 
$
64,811

 
$
97,454

 
$
103,856

 
$
91,447

 
$
66,190

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
Added Items:
 
 
Pretax income from continuing operations before minority interests and income (loss) from equity investees
 
$
(71,447
)
 
$
(15,861
)
 
$
43,102

 
$
334,031

 
$
623,528

 
$
542,203

 
 
Fixed charges
 
34,494

 
64,811

 
97,454

 
103,856

 
91,447

 
66,190

 
 
Amortization of capitalized interest
 
81

 
168

 
189

 
189

 
237

 
438

 
 
Distributed income of equity investees
 
2,372

 
2,556

 
6,470

 
5,963

 
4,772

 
5,290

 
 
Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges
 

 

 

 

 

 

 
Total added items
 
(34,500
)
 
51,674

 
147,215

 
444,039

 
719,984

 
614,121

 
Subtracted Items:
 
 
Interest capitalized
 
3,409

 
4,568

 
3,740

 
2,425

 
712

 

 
 
Preference security dividend requirements of consolidated subsidiaries
 

 

 

 

 

 

 
 
Minority interest in pretax income of subsidiaries that have not incurred fixed charges
 

 

 

 

 

 

 
Total subtracted items
 
3,409

 
4,568

 
3,740

 
2,425

 
712

 

 
Earnings as defined
 
$
(37,909
)
 
$
47,106

 
$
143,475

 
$
441,614

 
$
719,272

 
$
614,121

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
(1.10
)x
 
0.73
x
 
1.47
x
 
4.25
x
 
7.87
x
 
9.28
x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1) Commencing in 2015, this amount is included in the line above, Interest expensed and capitalized.