EX-12.1 3 h03648exv12w1.txt STATEMENT RE COMPUTATION OF RATIOS EXHIBIT 12.1 DIAMOND OFFSHORE DRILLING, INC. STATEMENT RE COMPUTATION OF RATIOS (THOUSANDS OF DOLLARS) RATIO OF EARNINGS TO FIXED CHARGES:
YEAR ENDED DECEMBER 31, ------------------------------------------------------------------------- 2002 2001 2000 1999 1998 --------- --------- --------- --------- --------- COMPUTATION OF EARNINGS: Pretax income from continuing operations ........... $ 96,174 $ 260,485 $ 110,867 $ 240,363 $ 590,231 Less: Interest capitalized during the period and actual preferred dividend requirements of majority-owned subsidiaries and 50%-owned persons included in fixed charges but not deducted from pretax income from above ................ (2,878) (2,645) (13,844) (6,329) (1,031) Add: Previously capitalized interest amortized during the period .................. 1,304 1,185 334 334 334 --------- --------- --------- --------- --------- Total earnings, before fixed charge addition ........................................... 94,600 259,025 97,357 234,368 589,534 --------- --------- --------- --------- --------- COMPUTATION OF FIXED CHARGES: Interest, including interest capitalized ........... 26,933 29,191 24,500 16,009 16,121 --------- --------- --------- --------- --------- Total fixed charges ................................ 26,933 29,191 24,500 16,009 16,121 --------- --------- --------- --------- --------- TOTAL EARNINGS AND FIXED CHARGES ................... $ 121,533 $ 288,216 $ 121,857 $ 250,377 $ 605,655 ========= ========= ========= ========= ========= RATIO OF EARNINGS TO FIXED CHARGES ................. 4.51 9.87 4.97 15.64 37.57 ========= ========= ========= ========= =========