EXHIBIT 12.1
TRITON ENERGY LIMITED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIOS)
(UNAUDITED)
NINE MONTHS
ENDING
AUG. 14, 2001 - JULY 1, 2001- SEPTEMBER 30,
SEPT. 30, 2001 AUG. 13, 2001 2000
--------------- ------------- -------------
Fixed charges, as defined
<s> <c> <c> <c>
Interest charges $ 6,223 $ 36,951 $ 29,165
Preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- ---
--------------- ------------- -------------
Total fixed charges $ 6,223 $ 36,951 $ 29,165
=============== ============= =============
Earnings, as defined (2):
Earnings (loss) from continuing operations
before income taxes, extraordinary item
and cumulative effect $ 8,861 $ 111,669 $ 116,878
Fixed charges, above 6,223 36,951 29,165
Less interest capitalized (4,235) (10,349) (17,213)
Plus undistributed (earnings) loss of affiliates (3) 16 28
Less preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- ---
--------------- ------------- -------------
$ 10,846 $ 138,287 $ 128,858
=============== ============= =============
RATIO OF EARNINGS TO FIXED CHARGES (1) (2) 1.7 3.7 4.4
=============== ============= =============
YEAR ENDING DECEMBER 31,
------------------------------------------------------
2000 1999 1998 1997 1996
--------- --------- --------- ---------- ---------
Fixed charges, as defined
<s> <c> <c> <c> <c> <c>
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) from continuing operations
before income taxes, extraordinary item
and cumulative effect $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 charges
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 charges
of $30,000,000 for January 1, 2001 through August 13, 2001,
$18,477,000 for the nine months ended September 30, 2000,
$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 1.7
for August 14, 2001 through September 30, 2001, 4.6
for January 1, 2001 through August 13, 2001, 5.1 for
the nine months ended September 30, 2000, 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.