EXHIBIT 12.1
TRITON ENERGY LIMITED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIOS)
(UNAUDITED)
YEAR ENDED DECEMBER 31,
------------------------------------------------------
2000 1999 1998 1997 1996
--------- --------- ---------- --------- ---------
Fixed charges, as defined
Interest charges $ 42,685 $ 38,231 $ 50,253 $ 50,625 $ 43,884
Preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- --- --- ---
--------- --------- ---------- --------- ---------
Total fixed charges $ 42,685 $ 38,231 $ 50,253 $ 50,625 $ 43,884
========= ========= ========== ========= =========
Earnings, as defined (2):
Earnings (loss) before income taxes,
extraordinary item and cumulative effect
of accounting change $136,726 $ 76,177 $(238,609) $ 16,896 $ 20,945
Fixed charges, above 42,685 38,231 50,253 50,625 43,884
Less interest capitalized (24,077) (14,539) (23,215) (25,818) (27,102)
Plus undistributed (earnings) loss of affiliates 35 28 --- --- (118)
Less preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- --- --- ---
--------- --------- ---------- --------- ---------
$155,369 $ 99,897 $(211,571) $ 41,703 $ 37,609
========= ========= ========== ========= =========
RATIO OF EARNINGS TO FIXED CHARGES (1) (2) 3.6 2.6 --- 0.8 0.9
========= ========= ========== ========= =========
____________________
(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
$55,119,000, $5,159,000, $348,064,000 and $46,153,000 for the years ended
December 31, 2000, 1999, 1998 and 1996, respectively. Nonrecurring gains from
the sale of assets and other gains aggregated $442,000, $125,617,000,
$6,253,000 and $22,189,000 for the years ended December 31, 1999, 1998, 1997 and
1996, respectively. The ratio of earnings to fixed charges if adjusted to remove
nonrecurring items, would have been 4.9, 2.7, 0.2, 0.7 and 1.4 for the years
ended December 31, 2000, 1999, 1998, 1997 and 1996, respectively. Without
nonrecurring items, earnings would have been inadequate to cover fixed charges
for the years ended December 31, 1998 and 1997 by $39,377,000 and $15,175,000,
respectively.