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| | | | | | | | | | | | Exhibit 12.01 | | | |
| |
| Oceaneering International, Inc. |
| Computation of Ratio of Earnings to Fixed Charges |
| ($ in thousands) |
| | | | | | Six Months Ended | | Year Ended December 31, |
| | | | | | Jun 30, 2016 | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| Fixed Charges: |
| | Interest expensed and capitalized | | $ | 14,438 |
| | $ | 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 | | 39,767 |
| | 76,381 |
| | 85,632 |
| | 63,735 |
| | 35,510 |
| | 24,451 |
|
| | Preference security dividend requirements of consolidated subsidiaries | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| | | | | | $ | 54,205 |
| | $ | 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 | | $ | 68,224 |
| | $ | 334,031 |
| | $ | 623,528 |
| | $ | 542,203 |
| | $ | 420,249 |
| | $ | 334,084 |
|
| | | Fixed charges | | 54,205 |
| | 103,856 |
| | 91,447 |
| | 66,190 |
| | 39,989 |
| | 25,547 |
|
| | | Amortization of capitalized interest | | 95 |
| | 189 |
| | 237 |
| | 438 |
| | 637 |
| | 633 |
|
| | | Distributed income of equity investees | | 3,926 |
| | 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 | | 126,450 |
| | 444,039 |
| | 719,984 |
| | 614,121 |
| | 469,536 |
| | 366,327 |
|
| | Subtracted Items: |
| | | Interest capitalized | | 1,839 |
| | 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 | | 1,839 |
| | 2,425 |
| | 712 |
| | — |
| | — |
| | — |
|
| | Earnings as defined | | $ | 124,611 |
| | $ | 441,614 |
| | $ | 719,272 |
| | $ | 614,121 |
| | $ | 469,536 |
| | $ | 366,327 |
|
| | | | | | | | | | | | | | | | |
| Ratio of earnings to fixed charges | | 2.30 | x | | 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.
