Exhibit 12.1
Frank’s International N.V.
Ratio of Earnings to Fixed Charges
Years Ended December 31, | Nine Months Ended September 30, 2014 | |||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 346,922 | $ | 376,127 | $ | 183,085 | $ | 126,253 | $ | 86,081 | $ | 229,449 | ||||||||||||
Plus: Fixed charges | 5,775 | 3,615 | 3,493 | 4,036 | 4,697 | 4,878 | ||||||||||||||||||
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Total earnings available for fixed charges | $ | 352,697 | $ | 379,742 | $ | 186,578 | $ | 130,289 | $ | 90,778 | $ | 234,327 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense and amortization of deferred financing costs | $ | 1,471 | $ | 808 | $ | 1,549 | $ | 2,316 | $ | 3,007 | $ | 596 | ||||||||||||
Interest component of rental expense | 4,304 | 2,807 | 1,944 | 1,720 | 1,690 | 4,282 | ||||||||||||||||||
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Total fixed charges | $ | 5,775 | $ | 3,615 | $ | 3,493 | $ | 4,036 | $ | 4,697 | $ | 4,878 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 61.1x | 105.0x | 53.4x | 32.3x | 19.3x | 48.0x | ||||||||||||||||||
The ratios were computed by dividing earnings by fixed charges. For this purpose, earnings include income from continuing operations before income taxes, adjusted for: income or loss from equity investees, fixed charges to the extent they affect current year earnings, amortization of capitalized interest, distributed income of equity investees, and interest capitalized during the year. Fixed charges include interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebtedness and estimates of interest within rental expenses.
