Exhibit 12.1
DIAMOND OFFSHORE DRILLING, INC.
Statement re Computation of Ratios
(In Thousands of Dollars)
Ratio of Earnings to Fixed Charges:
Year Ended December 31,
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2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
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Computation of Earnings: | ||||||||||||||||||||
Pretax income (loss) from continuing operations | $ | 918,081 | $ | 1,179,271 | $ | 1,336,016 | $ | 1,868,431 | $ | 1,847,046 | ||||||||||
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 | (37,674 | ) | (11,212 | ) | -- | -- | (16,870) | |||||||||||||
Add: Previously capitalized interest amortized during the period | 3,400 | 3,400 | 3,400 | 3,400 | 2,428 | |||||||||||||||
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Total earnings (losses), before fixed charge addition | 883,807 | 1,171,459 | 1,339,416 | 1,871,831 | 1,832,604 | |||||||||||||||
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Computation of Fixed Charges: | ||||||||||||||||||||
Interest, including interest capitalized | 87,449 | 87,425 | 93,334 | 51,585 | 28,842 | |||||||||||||||
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Total fixed charges | 87,449 | 87,425 | 93,334 | 51,585 | 28,842 | |||||||||||||||
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Total Earnings (Losses) and Fixed Charges | $ | 971,256 | $ | 1,258,884 | $ | 1,432,750 | $ | 1,923,416 | $ | 1,861,446 | ||||||||||
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Ratio of Earnings (Losses) to Fixed Charges(1) | 11.11 | 14.40 | 15.35 | 37.29 | 64.54 | |||||||||||||||
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(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.