Oceaneering International (OII) 10-K 2015 FY Annual report

													Exhibit 12.01
Oceaneering International, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
				2015			2014			2013			2012			2011
Fixed Charges:
		Interest expensed and capitalized		$	27,475		$	5,420		$	2,194		$	4,218		$	1,096
(1	)	Amortized premiums, discounts and capital expenses related to indebtedness		—			395			261			261			—
		Estimate of interest within rental expense		76,381			85,632			63,735			35,510			24,451
		Preference security dividend requirements of consolidated subsidiaries		—			—			—			—			—
				$	103,856		$	91,447		$	66,190		$	39,989		$	25,547
Earnings:
		Added Items:
			Pretax income from continuing operations before minority interests and income (loss) from equity investees	$	334,031		$	623,528		$	542,203		$	420,249		$	334,084
			Fixed charges	103,856			91,447			66,190			39,989			25,547
			Amortization of capitalized interest	189			237			438			637			633
			Distributed income of equity investees	5,963			4,772			5,290			8,661			6,063
			Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges	—			—			—			—			—
		Total added items		444,039			719,984			614,121			469,536			366,327
		Subtracted Items:
			Interest capitalized	2,425			712			—			—			—
			Preference security dividend requirements of consolidated subsidiaries	—			—			—			—			—
			Minority interest in pretax income of subsidiaries that have not incurred fixed charges	—			—			—			—			—
		Total subtracted items		2,425			712			—			—			—
		Earnings as defined		$	441,614		$	719,272		$	614,121		$	469,536		$	366,327
Ratio of earnings to fixed charges				4.25		x	7.87		x	9.28		x	11.74		x	14.34		x
(1	)		Commencing in 2015, this amount is included in the line above, Interest expensed and capitalized.