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. | ||||||||||||||||||||||
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10-K Filing
Oceaneering International (OII) 10-K2015 FY Annual report
Filed: 19 Feb 16, 12:00am