Exhibit 12.1
Noble Corporation
Statement Regarding Computation of Ratios
Statement Regarding Computation of Ratios
Twelve Months Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for noncontrolling interest in consolidated subsidiaries or income or loss from equity investees | $ | 2,037,215 | $ | 1,913,586 | $ | 1,490,653 | $ | 921,845 | $ | 361,507 | ||||||||||
Add: Fixed charges | 66,378 | 55,347 | 66,523 | 56,298 | 35,443 | |||||||||||||||
Add: Amortization of capitalized interest | 4,896 | 3,783 | 2,662 | 1,827 | 1,827 | |||||||||||||||
Less: Interest capitalized | (54,993 | ) | (47,727 | ) | (50,421 | ) | (37,853 | ) | (13,989 | ) | ||||||||||
Total earnings | $ | 2,053,556 | $ | 1,924,989 | $ | 1,509,417 | $ | 942,117 | $ | 384,788 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense (1) | $ | 1,685 | $ | 4,388 | $ | 13,111 | $ | 16,167 | $ | 19,786 | ||||||||||
Interest capitalized | 54,933 | 47,727 | 50,421 | 37,853 | 13,989 | |||||||||||||||
Estimate of interest within rental expense | 9,760 | 3,232 | 2,991 | 2,278 | 1,668 | |||||||||||||||
Total fixed charges | $ | 66,378 | $ | 55,347 | $ | 66,523 | $ | 56,298 | $ | 35,443 | ||||||||||
Ratio of Earnings to Fixed Charges | 30.9 | 34.8 | 22.7 | 16.7 | 10.9 | |||||||||||||||
(1) | Includes amortization of discounts and capitalized expenses related to indebtedness |