EXHIBIT 12.1
PARKER DRILLING COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands Except Rations)
Nine Months Ended September 30,
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2002 2003
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Pretax income (loss) from continuing operations before
minority interest & income (loss) from equity investees $(18,834) $(24,122)
Interest expense 36,894 38,569
Amortization of debt expense, discount and premium 1,515 1,332
Amortization of capitalized interest 392 395
Interest portion of rentals (a) 692 828
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Earnings $ 20,659 $ 17,002
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Interest expense 36,894 38,569
Amortization of debt expense, discount and premium 1,515 1,332
Interest portion of rentals (a) 692 828
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Fixed charges $ 39,101 $ 40,729
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Ratio of earnings to fixed charges 0.5x 0.4x
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(a) - Interest portion of rentals is a reasonable approximation of the interest
factor