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, | ||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Computation of Earnings: | ||||||||||||||||||||
Pretax income (loss) from continuing operations | $ | 1,246,537 | $ | 966,332 | $ | 356,395 | $ | (3,533 | ) | $ | (54,237 | ) | ||||||||
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 | (18,544 | ) | (9,796 | ) | (742 | ) | — | (2,201 | ) | |||||||||||
Add: Previously capitalized interest amortized during the period | 1,449 | 1,249 | 1,249 | 1,249 | 1,166 | |||||||||||||||
Total earnings (losses), before fixed charge addition | 1,229,442 | 957,785 | 356,902 | (2,284 | ) | (55,272 | ) | |||||||||||||
Computation of Fixed Charges: | ||||||||||||||||||||
Interest, including interest capitalized | 39,267 | 35,132 | 43,574 | 30,330 | 26,737 | |||||||||||||||
Total fixed charges | 39,267 | 35,132 | 43,574 | 30,330 | 26,737 | |||||||||||||||
Total Earnings (Losses) and Fixed Charges | $ | 1,268,709 | $ | 992,917 | $ | 400,476 | $ | 28,046 | $ | (28,535 | ) | |||||||||
Ratio of Earnings (Losses) to Fixed Charges(1) | 32.31 | 28.26 | 9.19 | N/A | N/A | |||||||||||||||
(1) | The deficiency in our earnings available for fixed charges for the year ended December 31, 2004 and 2003 was approximately $2.3 million and $55.3 million, respectively. 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. |