Exhibit 12.1
National Oilwell Varco, Inc.
Ratio of Earnings to Fixed Charges
(In millions, except for ratios)
Ratio of Earnings to Fixed Charges
(In millions, except for ratios)
Years Ended December 31, | ||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Income from continuing operations before income taxes and minority interest | $ | 2,028.9 | $ | 1,049.2 | $ | 430.0 | $ | 138.9 | $ | 121.8 | ||||||||||
Add: | ||||||||||||||||||||
Fixed charges (see below) | 95.2 | 82.1 | 73.6 | 46.2 | 47.5 | |||||||||||||||
Earnings before provision for taxes and fixed charges | 2,124.1 | 1,131.3 | 503.6 | 185.1 | 169.3 | |||||||||||||||
Estimated interest within rental expense | 44.9 | 33.4 | 20.7 | 7.8 | 8.6 | |||||||||||||||
Interest expense on indebtedness | 50.3 | 48.7 | 52.9 | 38.4 | 38.9 | |||||||||||||||
Total fixed charges | 95.2 | 82.1 | 73.6 | 46.2 | 47.5 | |||||||||||||||
Ratio of earnings to fixed charges | 22.3 | x | 13.8 | x | 6.8 | x | 4.0 | x | 3.6 | x | ||||||||||