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Filing tables
Filing exhibits
- 10-K Annual report
- 12 Computation of Ratios
- 21 Significant Subsidiaries
- 23.1 Consent of Independent Registered Public Accounting Firm
- 23.2 Consent of Miller and Lents, LTD.
- 23.3 Consent of Ajm Deloitte
- 23.4 Consent of Cawley, Gillespie & Associates, Inc.
- 23.5 Consent of Miller and Lents, LTD. NFR Energy LLC
- 31.1 Rule 13A-14(A)/15D-14(A) Certification of Anthony G. Petrello
- 31.2 Rule 13A-14(A)/15D-14(A) Certification of R. Clark Wood
- 32.1 Certifications Required by Rule 13A-14(B) or Rule 15D-14(B)
- 99.1 Report of Miller and Lents, LTD.
- 99.2 Report of Ajm Deloitte
- 99.3 Cawley, Gillespie & Associates, Inc.
- 99.4 Report of Miller and Lents, LTD. - NFR Energy LLC
- 99.5 Financial Statements and Notes for NFR Energy LLC
- 99.6 Letter from Ajm Deloitte
Related press release
NBR similar filings
Filing view
External links
EXHIBIT 12
NABORS INDUSTRIES LTD. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
Years Ended December 31, | ||||||||||||||||
2011 | 2010 | 2009 | ||||||||||||||
Income (loss) from continuing operations before income taxes |
| $ | 486,724 | $ | 293,485 | $ | 69,126 | |||||||||
Less earnings (add losses) from affiliates, net of dividends |
| (140,477 | ) | (24,268 | ) | 170,564 | ||||||||||
Less subsidiary preferred stock dividends | (3,000 | ) | (750 | ) | — | |||||||||||
Add amortization of capitalized interest | 7,626 | 6,089 | 5,312 | |||||||||||||
Add fixed charges as adjusted | 265,079 | 277,468 | 269,870 | |||||||||||||
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Earnings | (1 | ) | $ | 615,982 | $ | 552,024 | $ | 514,872 | ||||||||
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Fixed charges: | ||||||||||||||||
Interest expense: | ||||||||||||||||
Interest on indebtedness | $ | 224,438 | $ | 196,563 | $ | 173,111 | ||||||||||
Capitalized | 23,350 | 12,448 | 28,813 | |||||||||||||
Amortization of debt related costs (a) | 32,195 | 76,149 | 92,936 | |||||||||||||
Subsidiary preferred stock dividends | 3,000 | 750 | — | |||||||||||||
Interest portion of rental expense | 5,446 | 4,006 | 3,823 | |||||||||||||
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Fixed charges before adjustments | (2 | ) | 288,429 | 289,916 | 298,683 | |||||||||||
Less capitalized interest | (23,350 | ) | (12,448 | ) | (28,813 | ) | ||||||||||
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Fixed charges as adjusted | $ | 265,079 | $ | 27,468 | $ | 269,870 | ||||||||||
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Ratio (earnings divided by fixed charges before adjustments) | (1 | )/(2) | 2.14 | 1.90 | 1.72 | |||||||||||
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(a) | Includes deferred financing, discount and premium amortization. |