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EXHIBIT 12.1
Parker Drilling Company
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
Three Months Ended March 31, 2017 | Fiscal Year Ended December 31, | ||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||
Pretax Income (Loss) | (37,467 | ) | (156,644 | ) | (71,971 | ) | 48,537 | 52,787 | 70,977 | ||||||||
Fixed Charges | 10,954 | 45,974 | 45,379 | 45,436 | 50,196 | 43,782 | |||||||||||
Amortization of Capitalized Interest | 1,010 | 3,916 | 3,793 | 3,939 | 4,058 | 1,887 | |||||||||||
Capitalized Interest | (84 | ) | (162 | ) | (224 | ) | (1,171 | ) | (2,376 | ) | (10,240 | ) | |||||
Earnings before Income Tax & Fixed Charges | (25,587 | ) | (106,916 | ) | (23,023 | ) | 96,741 | 104,665 | 106,406 | ||||||||
Interest Expense | 10,870 | 45,812 | 45,155 | 44,265 | 47,820 | 33,542 | |||||||||||
Capitalized Interest | 84 | 162 | 224 | 1,171 | 2,376 | 10,240 | |||||||||||
Total Fixed Charges | 10,954 | 45,974 | 45,379 | 45,436 | 50,196 | 43,782 | |||||||||||
Ratio of Earnings to Fixed Charges | (1 | ) | (2) | (2) | 2.1x | 2.1x | 2.4x |
(1) For the quarter ended March 31, 2017, earnings were deficient to cover fixed charges by $25.6 million.
(2) For the year ended December 31, 2016 and 2015, earnings were deficient to cover fixed charges by $106.9 million.
and $23.0 million, respectively.