Parker Drilling (PKDC) 10-Q 2016 Q2 Quarterly report

EXHIBIT 12.1

Parker Drilling Company

Computation of Ratio of Earnings to Fixed Charges

(Dollars in Thousands)

	Six Months Ended   June 30, 2016		Fiscal Year Ended December 31,
			2015		2014		2013		2012		2011
Pretax Income (Loss)	(73,074	)	(71,971	)	48,537		52,787		70,977		(65,412	)
Fixed Charges	23,831		45,379		45,436		50,196		43,782		41,865
Amortization of Capitalized Interest	1,900		3,793		3,939		4,058		1,887		1,557
Capitalized Interest	(82	)	(224	)	(1,171	)	(2,376	)	(10,240	)	(19,271	)
Earnings before Income Tax & Fixed Charges	(47,425	)	(23,023	)	96,741		104,665		106,406		(41,261	)
Interest Expense	23,749		45,155		44,265		47,820		33,542		22,594
Capitalized Interest	82		224		1,171		2,376		10,240		19,271
Total Fixed Charges	23,831		45,379		45,436		50,196		43,782		41,865
Ratio of Earnings to Fixed Charges	(1	)	(2)		2.1x		2.1x		2.4x		(3)

(1) For the six months ended June 30, 2016, earnings were deficient to cover fixed charges by $47.4 million.

(2) For the year ended December 31, 2015, earnings were deficient to cover fixed charges by $23.0 million.

(3) For the year ended December 31, 2011, earnings were deficient to cover fixed charges by $41.3 million, which was primarily due to a pre-tax, non-cash charge to earnings of $170.0 million related to the impairment of our two Alaska rigs.