1
EXHIBIT 12
PARKER DRILLING COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
Year Ended August 31, Six Months Ended February 28,
---------------------------------------------------------------- -------------------------------
Pro Forma Pro Forma
1993 1994 1995 1996 1997 1997 1997 1998 1998
-------- -------- -------- -------- -------- --------- -------- -------- ---------
Income from continuing
operations before provision
for income taxes per
statement of income $(11,024) $(26,919) $7,100 $8,567 $23,556 $14,500 $ 4,827 $34,267 $35,562
Add
Interest on indebtedness 53 11 88 135 31,494 53,965 11,620 23,686 27,077
Amortization of debt expense
and premium/discount -- -- -- -- 1,357 2,249 487 1,092 1,092
-------- -------- ------ ------ ------- ------- ------- ------- -------
Adjusted income $(10,971) $(26,908) $7,188 $8,702 $56,407 $70,714 $16,934 $59,045 $63,731
======== ======== ====== ====== ======= ======= ======= ======= =======
Fixed charges
Interest expense 53 11 88 135 31,494 53,965 11,620 23,686 27,077
Amortization of debt expense
and premium/discount -- -- -- -- 1,357 2,249 487 1,092 1,092
-------- -------- ------ ------ ------- ------- ------- ------- -------
Fixed charges $ 53 $ 11 $ 88 $ 135 $32,851 $56,214 $12,107 $24,778 $28,169
======== ======== ====== ====== ======= ======= ======= ======= =======
Ratio of earnings to fixed
charges -- -- 81.68 64.46 1.72 1.26 1.40 2.38 2.26
======== ======== ====== ====== ======= ======= ======= ======= =======