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HELMERICH & PAYNE, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in thousands, except ratio)
| Years Ended September 30, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||
Fixed Charges | ||||||||||||||||
Interest Expense | 22,913 | $ | 15,023 | $ | 4,657 | $ | 6,126 | $ | 8,662 | |||||||
Interest Capitalized During the Period | 2,759 | 6,951 | 7,677 | 8,788 | 12,882 | |||||||||||
Net Amortization of Debt Discount and Premium and Issuance Expense | — | 59 | 400 | 409 | 315 | |||||||||||
Interest Portion of Rental Expense | 951 | 877 | 826 | 692 | 656 | |||||||||||
| | | | | | | | | | | | | | | | |
Total Fixed Charges Denominator | 26,623 | $ | 22,910 | $ | 13,560 | $ | 16,015 | $ | 22,515 | |||||||
Earnings | ||||||||||||||||
Pretax Income (Loss) from Continuing Operations | (72,667 | ) | $ | 661,879 | $ | 1,094,658 | $ | 1,114,226 | $ | 904,749 | ||||||
Fixed Charges Calculated Above | 26,623 | 22,910 | 13,560 | 16,015 | 22,515 | |||||||||||
Less Interest Capitalized During the Period | (2,759 | ) | (6,951 | ) | (7,677 | ) | (8,788 | ) | (12,882 | ) | ||||||
Current Period Amortization of Interest Capitalized in Prior Periods | 4,447 | 4,357 | 3,963 | 3,621 | 3,109 | |||||||||||
| | | | | | | | | | | | | | | | |
Earnings Numerator | (44,356 | ) | $ | 682,195 | $ | 1,104,504 | $ | 1,125,074 | $ | 917,491 | ||||||
Ratio of Earnings to Fixed Charges | –1.7x | 29.8x | 81.5x | 70.3x | 40.8x |
Results for 2015 and prior periods have been changed due to the change in reporting year-end for our international subsidiaries from August 31 to September 30 effective October 1, 2015.
HELMERICH & PAYNE, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ in thousands, except ratio)