EX-12.1 6 a14-15760_1ex12d1.htm EX-12.1

Exhibit 12.1

 

CAMERON INTERNATIONAL CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions of dollars)

 

 

 

2009

 

2010

 

2011

 

2012

 

2013

 

THREE MONTHS
ENDED
3/31/2014

 

Pre-tax income from continuing operations

 

$

612.4

 

$

699.3

 

$

610.4

 

$

894.3

 

$

926.9

 

$

170.2

 

Equity adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduct undistributed income of less than 50% owned entities

 

(3.5

)

—

 

(4.6

)

(6.8

)

(6.5

)

(2.1

)

Amortization of capitalized interest

 

0.2

 

0.2

 

0.1

 

0.1

 

0.1

 

—

 

Less interest capitalized during the period

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest, including amortization of debt issuance costs and original issue discount

 

92.4

 

82.2

 

92.4

 

104.4

 

114.5

 

37.4

 

Interest portion of rental expense (1)

 

12.4

 

16.6

 

11.4

 

12.0

 

26.9

 

8.3

 

Total fixed charges

 

104.8

 

98.8

 

103.8

 

116.4

 

141.4

 

45.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes and fixed charges

 

$

713.9

 

$

798.3

 

$

709.7

 

$

1,004.0

 

$

1,061.9

 

$

213.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

6.8

 

8.1

 

6.8

 

8.6

 

7.5

 

4.7

 

 

(1) The portion of rent included in the calculation is believed to be a reasonable approximation of the interest factor.