ENSCO PLC AND SUBSIDIARIES
Statement of Calculation of Ratios of Earnings to Fixed Charges
(In millions, except ratios)
(Unaudited)
|
| | | | | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended June 30, 2016 | | Year Ended December 31, |
| | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| | | | |
| Earnings | | | | | |
| | |
| | |
| | |
|
| Income (loss) from continuing operations before income tax | $ | 878.5 |
| | $ | (1,471.2 | ) | | $ | (2,548.8 | ) | | $ | 1,633.2 |
| | $ | 1,304.7 |
| | $ | 673.5 |
|
| Fixed charges deducted from income from continuing operations | 150.2 |
| | 323.2 |
| | 260.4 |
| | 245.3 |
| | 247.3 |
| | 187.6 |
|
| Amortization of capitalized interest | 8.2 |
| | 18.2 |
| | 17.0 |
| | 13.3 |
| | 12.3 |
| | 6.7 |
|
| Less: | | | | | | | | | | | |
| Income from continuing operations before income tax attributable to noncontrolling interests | (3.9 | ) | | (10.5 | ) | | (15.5 | ) | | (9.7 | ) | | (7.4 | ) | | (5.8 | ) |
| Interest capitalized | (24.8 | ) | | (87.4 | ) | | (78.2 | ) | | (67.7 | ) | | (105.8 | ) | | (80.2 | ) |
| | 1,008.2 |
| | (1,227.7 | ) | | (2,365.1 | ) | | 1,814.4 |
| | 1,451.1 |
| | 781.8 |
|
| | | | | | | | | | | | |
| Fixed Charges | | | | | | | | | | | |
| Interest on indebtedness, including amortization of deferred loan costs | 119.1 |
| | 216.3 |
| | 161.4 |
| | 158.8 |
| | 123.6 |
| | 95.9 |
|
| Estimated interest within rental expense | 6.3 |
| | 19.5 |
| | 20.8 |
| | 18.8 |
| | 17.9 |
| | 11.5 |
|
| Fixed charges deducted from income from continuing operations | 125.4 |
| | 235.8 |
| | 182.2 |
| | 177.6 |
| | 141.5 |
| | 107.4 |
|
| Interest capitalized | 24.8 |
| | 87.4 |
| | 78.2 |
| | 67.7 |
| | 105.8 |
| | 80.2 |
|
| Total | $ | 150.2 |
| | $ | 323.2 |
| | $ | 260.4 |
| | $ | 245.3 |
| | $ | 247.3 |
| | $ | 187.6 |
|
| | | |
|
| |
|
| |
|
| |
|
| |
|
|
| Ratio of Earnings to Fixed Charges | 6.7 |
| | (a) |
| | (a) |
| | 7.4 |
| | 5.9 |
| | 4.2 |
|
| |
| (a) | For the year ended December 31, 2015 and December 31, 2014, our earnings were inadequate to cover our fixed charges by $1,550.9 and $2,625.5 million, respectively. Net loss from continuing operations before income taxes of $1,471.2 million and $2,548.8 million for the years ended December 31, 2015 and December 31, 2014 included a non-cash loss on impairment of $2,746.4 million and $4,218.7 million, respectively. |
