EXHIBIT 12.1
TRITON ENERGY LIMITED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIOS)
(UNAUDITED)
THREE MONTHS ENDING
MARCH 31, YEAR ENDING DECEMBER 31,
------------------ ------------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
-------- -------- --------- ---------- --------- --------- ---------
Fixed charges, as defined
Interest charges $ 9,520 $ 9,740 $ 38,231 $ 50,253 $ 50,625 $ 43,884 $ 41,305
Preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- --- --- --- --- ---
-------- -------- --------- ---------- --------- --------- ---------
Total fixed charges $ 9,520 $ 9,740 $ 38,231 $ 50,253 $ 50,625 $ 43,884 $ 41,305
======== ======== ========= ========== ========= ========= =========
Earnings, as defined (2):
Earnings (loss) from continuing operations
before income taxes and extraordinary item $37,075 $ 6,186 $ 76,177 $(238,609) $ 16,896 $ 20,945 $ 16,600
Fixed charges, above 9,520 9,740 38,231 50,253 50,625 43,884 41,305
Less interest capitalized (4,523) (3,390) (14,539) (23,215) (25,818) (27,102) (16,211)
Plus undistributed (earnings) loss of affiliates 13 --- 28 --- --- (118) 2,249
Less preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- --- --- --- --- ---
-------- -------- --------- ---------- --------- --------- ---------
$42,085 $12,536 $ 99,897 $(211,571) $ 41,703 $ 37,609 $ 43,943
======== ======== ========= ========== ========= ========= =========
RATIO OF EARNINGS TO FIXED CHARGES (1) (2) 4.4 1.3 2.6 --- 0.8 0.9 1.1
======== ======== ========= ========== ========= ========= =========
____________________
(1) Earnings were inadequate to cover fixed for the years ended December 31, 1998, 1997 and 1996 by $261,824,000,
$8,922,000 and $6,275,000, respectively.
(2) Earnings reflect nonrecurring writedowns and loss provisions of $1,220,000 for the three months ended March 31, 1999,
$5,159,000, $348,064,000, $46,153,000 and $1,058,000 for the years ended December 31, 1999, 1998, 1996 and 1995,
respectively. Nonrecurring gains from the sale of assets and other gains aggregated $442,000, $125,617,000, $6,253,000,
$22,189,000 and $13,617,000 for the years ended December 31, 1999, 1998, 1997, 1996 and 1995, respectively. The ratio of
earnings to fixed charges if adjusted to remove nonrecurring items, would have been 1.4 for the three months ended March 31,
1999, 2.7, 0.2, 0.7, 1.4 and 0.8 for the years ended December 31, 1999, 1998, 1997, 1996 and 1995, respectively. Without
nonrecurring items, earnings would have been inadequate to cover fixed charges for the years ended December 31, 1998, 1997
and 1995 by $39,377,000, $15,175,000 and $9,921,000, respectively.