Oceaneering International (OII) 10-Q 2017 Q1 Quarterly report

																Exhibit 12.01
Oceaneering International, Inc.
Computation of Ratio of Earnings to Fixed Charges
($ in thousands)
				Three Months Ended			Year Ended December 31,
				Mar 31, 2017			2016			2015			2014			2013			2012
Fixed Charges:
		Interest expensed and capitalized		$	7,307		$	29,058		$	27,475		$	5,420		$	2,194		$	4,218
(1	)	Amortized premiums, discounts and capital expenses related to indebtedness		—			—			—			395			261			261
		Estimate of interest within rental expense		6,670			68,396			76,381			85,632			63,735			35,510
		Preference security dividend requirements of consolidated subsidiaries		—						—			—			—			—
				$	13,977		$	97,454		$	103,856		$	91,447		$	66,190		$	39,989
Earnings:
		Added Items:
			Pretax income from continuing operations before minority interests and income (loss) from equity investees	$	(7,637	)	$	43,102		$	334,031		$	623,528		$	542,203		$	420,249
			Fixed charges	13,977			97,454			103,856			91,447			66,190			39,989
			Amortization of capitalized interest	42			189			189			237			438			637
			Distributed income of equity investees	707			6,470			5,963			4,772			5,290			8,661
			Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges	—			—			—			—			—			—
		Total added items		7,089			147,215			444,039			719,984			614,121			469,536
		Subtracted Items:
			Interest capitalized	1,039			3,740			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		1,039			3,740			2,425			712			—			—
		Earnings as defined		$	6,050		$	143,475		$	441,614		$	719,272		$	614,121		$	469,536
Ratio of earnings to fixed charges				0.43		x	1.47		x	4.25		x	7.87		x	9.28		x	11.74		x

(1) Commencing in 2015, this amount is included in the line above, Interest expensed and capitalized.