EX-12.1 2 mdr-ex121_30.htm EX-12.1 mdr-ex121_30.htm

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(In millions)

Our ratio of earnings to fixed charges is as follows:  

 

 

 

Nine Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2018

 

 

2017

 

 

2016

 

 

2015

 

 

2014

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income taxes and noncontrolling interest

 

$

60

 

 

$

246

 

 

$

78

 

 

$

43

 

 

$

(45

)

Interest expense and other

 

 

153

 

 

 

65

 

 

 

64

 

 

 

58

 

 

 

63

 

Portion of rents representative of the interest factor(1)

 

 

21

 

 

 

15

 

 

 

12

 

 

 

13

 

 

 

36

 

 

 

 

234

 

 

 

326

 

 

 

154

 

 

 

114

 

 

 

54

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amount capitalized

 

 

168

 

 

 

67

 

 

 

75

 

 

 

74

 

 

 

85

 

Portion of rents representative of the interest factor(1)

 

 

21

 

 

 

15

 

 

 

12

 

 

 

13

 

 

 

36

 

 

 

$

189

 

 

$

82

 

 

$

87

 

 

$

87

 

 

$

121

 

Ratio of earnings to fixed charges(2)

 

1.24x

 

 

3.98x

 

 

1.77x

 

 

1.31x

 

 

—

 

 

(1)

33% of rental expense.

(2)

For the year ended December 31, 2014, earnings were deficient to cover fixed charges by $68 million, primarily as a result of operating losses.