EX-12.1 6 dex121.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re computation of ratio of earnings to fixed charges

EXHIBIT 12.1

ENSCO INTERNATIONAL INCORPORATED AND SUBSIDIARIES

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratios)

 

     September 30,
2008
    September 30,
2007
    2007     2006     2005     2004     2003  

Earnings:

             

Income from continuing operations before income tax

  $ 1,058.3     $ 914.9     $ 1,215.5     $ 983.4     $ 361.0     $ 119.8     $ 134.8  

Fixed charges

    21.2       30.2       38.7       41.8       43.5       46.7       43.1  

Amortization of capitalized interest

    1.8       1.8       2.3       2.0       1.7       1.5       1.3  

Less:

             

Interest capitalized

    (16.3 )     (23.5 )     (30.4 )     (18.9 )     (8.9 )     (3.9 )     (2.0 )
                                                       

Total

  $ 1,065.0     $ 923.4     $ 1,226.1     $ 1,008.3     $ 397.2     $ 164.0     $ 177.3  

Fixed Charges:

             

Interest expensed

  $ —       $ 1.9     $ 1.9     $ 16.5     $ 28.8     $ 36.6     $ 36.7  

Interest capitalized

    16.3       23.5       30.4       18.9       8.9       3.9       2.0  

Amortization of capitalized debt issuance costs and other debt related costs

    1.5       1.8       2.4       2.6       2.8       3.2       2.7  

Estimated interest within rental expense

    3.4       3.0       4.0       3.8       3.0       3.0       1.7  
                                                       

Total

  $ 21.2     $ 30.2     $ 38.7     $ 41.8     $ 43.5     $ 46.7     $ 43.1  
                                                       

Ratio of Earnings to Fixed Charges

    50.2       30.6       31.7       24.1       9.1       3.5       4.1