Exhibit 12.1
TechnipFMC plc
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
2017 | 2016 | 2015 | ||||||||||
Fixed Charges: (in millions of USD) | ||||||||||||
Interest expense | 456.0 | 114.1 | 148.9 | |||||||||
Capitalized interest | 1.6 | — | — | |||||||||
Amortized loan costs not recorded as interest expense | 1.9 | 1.1 | 1.1 | |||||||||
Estimate of interest expense within rental expense | 123.1 | 104.5 | 127.2 | |||||||||
|
|
|
|
|
| |||||||
Total fixed charges | 582.7 | 219.7 | 277.2 | |||||||||
|
|
|
|
|
| |||||||
Earnings: | ||||||||||||
Income from continuing operations before tax | 679.7 | 551.4 | 150.5 | |||||||||
Less income (loss) of noncontrolling interests | (20.9 | ) | 22.2 | 0.4 | ||||||||
Less income from equity investees | (55.6 | ) | (117.7 | ) | (51.0 | ) | ||||||
Plus fixed charges | 582.7 | 219.7 | 277.2 | |||||||||
Plus amortization of capitalized interest | 0.9 | — | — | |||||||||
Dividends from equity method investees | 17.7 | 69.6 | 24.7 | |||||||||
Less interest capitalized | (1.6 | ) | — | — | ||||||||
|
|
|
|
|
| |||||||
Total earnings | 1,202.8 | 745.2 | 401.8 | |||||||||
|
|
|
|
|
| |||||||
Ratio of earnings to fixed charges | 2.1 | 3.4 | 1.4 | |||||||||
|
|
|
|
|
|