Exhibit 12.1
DIAMOND OFFSHORE DRILLING, INC.
Statement re Computation of Ratios
(Thousands of Dollars)
Statement re Computation of Ratios
(Thousands of Dollars)
Ratio of Earnings to Fixed Charges:
Year Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Computation of Earnings: | ||||||||||||||||||||
Pretax income (loss) from continuing operations | $ | 1,868,431 | $ | 1,847,046 | $ | 1,243,372 | $ | 954,030 | $ | 330,318 | ||||||||||
Less Interest capitalized during the period and actual preferred dividend requirements of majority-owned subsidiaries and 50%-owned persons included in fixed charges but not deducted from pretax income from above | — | (16,870 | ) | (19,320 | ) | (14,951 | ) | (1,301 | ) | |||||||||||
Add: Previously capitalized interest amortized during the period | 3,400 | 2,428 | 1,928 | 1,652 | 1,652 | |||||||||||||||
Total earnings (losses), before fixed charge addition | 1,871,831 | 1,832,604 | 1,225,980 | 940,731 | 330,669 | |||||||||||||||
Computation of Fixed Charges: | ||||||||||||||||||||
Interest, including interest capitalized | 51,585 | 28,842 | 40,648 | 52,185 | 69,806 | |||||||||||||||
Total fixed charges | 51,585 | 28,842 | 40,648 | 52,185 | 69,806 | |||||||||||||||
Total Earnings (Losses) and Fixed Charges | $ | 1,923,416 | $ | 1,861,446 | $ | 1,266,628 | $ | 992,916 | $ | 400,475 | ||||||||||
Ratio of Earnings (Losses) to Fixed Charges(1) | 37.29 | 64.54 | 31.16 | 19.03 | 5.74 | |||||||||||||||
(1) | For purposes of this ratio, fixed charges include (i) interest, whether expensed or capitalized, (ii) amortization of debt issuance costs, whether expensed or capitalized, and (iii) a portion of rent expense, which we believe represents the interest factor attributable to rent. |