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, | ||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
Computation of Earnings: | ||||||||||||||||||||
Pretax income (loss) from continuing operations | $ | 356,395 | $ | (3,533 | ) | $ | (54,237 | ) | $ | 96,174 | $ | 260,485 | ||||||||
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 | (742 | ) | — | (2,201 | ) | (2,878 | ) | (2,645 | ) | |||||||||||
Add: Previously capitalized interest amortized during the period | 1,249 | 1,249 | 1,166 | 1,304 | 1,185 | |||||||||||||||
Total earnings (losses), before fixed charge addition | 356,902 | (2,284 | ) | (55,272 | ) | 94,600 | 259,025 | |||||||||||||
Computation of Fixed Charges: | ||||||||||||||||||||
Interest, including interest capitalized | 43,574 | 30,330 | 26,737 | 26,933 | 29,191 | |||||||||||||||
Total fixed charges | 43,574 | 30,330 | 26,737 | 26,933 | 29,191 | |||||||||||||||
Total Earnings (Losses) and Fixed Charges | $ | 400,476 | $ | 28,046 | $ | (28,535 | ) | $ | 121,533 | $ | 288,216 | |||||||||
Ratio of Earnings (Losses) to Fixed Charges(1) | 9.19 | N/A | N/A | 4.51 | 9.87 | |||||||||||||||
(1) | The deficiency in our earnings available for fixed charges for the years ended December 31, 2004 and 2003 was approximately $2.3 million and $55.3 million, respectively. |