Oceaneering International (OII) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

Oceaneering International, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in thousands)

		Nine Months Ended September 30, 2014		Year Ended December 31,
				2013		2012		2011		2010		2009
Fixed Charges:
Interest expensed and capitalized		$	1,746	$	2,194	$	4,218	$	1,096	$	6,321	$	7,826
Amortized premiums, discounts and capital expenses related to indebtedness			196		261		261		—		126		154
Estimate of interest within rental expense			62,224		63,735		35,510		24,451		23,151		24,653
Preference security dividend requirements of consolidated subsidiaries			—		—		—		—		—		—
		$	64,166	$	66,190	$	39,989	$	25,547	$	29,598	$	32,633
Earnings:
Added Items:
Pretax income from continuing operations before minority interests and income (loss) from equity investees		$	474,340	$	542,203	$	420,249	$	334,084	$	303,144	$	286,533
Fixed charges			64,166		66,190		39,989		25,547		29,598		32,633
Amortization of capitalized interest			179		438		637		633		621		638
Distributed income of equity investees			3,515		5,290		8,661		6,063		7,647		8,492
Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges			—		—		—		—		—		—
Total added items			542,200		614,121		469,536		366,327		341,010		328,296
Subtracted Items:
Interest capitalized	��		260		—		—		—		311		45
Preference security dividend requirements of consolidated subsidiaries			—		—		—		—		—		—
Minority interest in pretax income of subsidiaries that have not incurred fixed charges			—		—		—		—		—		—
Total subtracted items			260		—		—		—		311		45
Earnings as defined		$	541,940	$	614,121	$	469,536	$	366,327	$	340,699	$	328,251
Ratio of earnings to fixed charges			8.45x		9.28x		11.74x		14.34x		11.51x		10.06x