Exhibit 12.1
Noble Corporation
Statement Regarding Computation of Ratios
Statement Regarding Computation of Ratios
Three | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for noncontrolling interest in consolidated subsidiaries or income or loss from equity investees | $ | 514,744 | $ | 1,913,586 | $ | 1,490,653 | $ | 921,845 | $ | 361,507 | $ | 155,635 | ||||||||||||
Add: Fixed charges | 17,029 | 55,347 | 66,523 | 56,298 | 35,443 | 36,021 | ||||||||||||||||||
Add: Amortization of capitalized interest | 1,074 | 3,783 | 2,662 | 1,827 | 1,827 | 1,827 | ||||||||||||||||||
Less: Interest capitalized | (15,371 | ) | (47,727 | ) | (50,421 | ) | (37,853 | ) | (13,989 | ) | — | |||||||||||||
Total earnings | $ | 517,476 | $ | 1,924,989 | $ | 1,509,417 | $ | 942,117 | $ | 384,788 | $ | 193,483 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense (1) | $ | 521 | $ | 4,388 | $ | 13,111 | $ | 16,167 | $ | 19,786 | $ | 34,389 | ||||||||||||
Interest capitalized | 15,371 | 47,727 | 50,421 | 37,853 | 13,989 | — | ||||||||||||||||||
Estimate of interest within rental expense | 1,137 | 3,232 | 2,991 | 2,278 | 1,668 | 1,632 | ||||||||||||||||||
Total fixed charges | $ | 17,029 | $ | 55,347 | $ | 66,523 | $ | 56,298 | $ | 35,443 | $ | 36,021 | ||||||||||||
Ratio of Earnings to Fixed Charges | 30.4 | 34.8 | 22.7 | 16.7 | 10.9 | 5.4 | ||||||||||||||||||
(1) | Includes amortization of discounts and capitalized expenses related to indebtedness |