EX-12.1 2 h22957exv12w1.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, ---------------------------------------------------------------- 2004 2003 2002 2001 2000 -------- -------- -------- -------- -------- COMPUTATION OF EARNINGS: Pretax (loss) income from continuing operations.............. $ (3,533) $(54,237) $ 96,174 $260,485 $110,867 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............................................ -- (2,201) (2,878) (2,645) (13,844) Add: Previously capitalized interest amortized during the period............................................ 1,249 1,166 1,304 1,185 334 -------- -------- -------- -------- -------- Total (losses) earnings, before fixed charge addition........ (2,284) (55,272) 94,600 259,025 97,357 -------- -------- -------- -------- -------- COMPUTATION OF FIXED CHARGES: Interest, including interest capitalized..................... 30,330 26,737 26,933 29,191 24,500 -------- -------- -------- -------- -------- Total fixed charges.......................................... 30,330 26,737 26,933 29,191 24,500 -------- -------- -------- -------- -------- TOTAL (LOSSES) EARNINGS AND FIXED CHARGES.................... $ 28,046 $(28,535) $121,533 $288,216 $121,857 ======== ======== ======== ======== ======== RATIO OF (LOSSES) EARNINGS TO FIXED CHARGES (1).............. N/A N/A 4.51 9.87 4.97 ======== ======== ======== ======== ========
------------------- (1) The deficiency in the Company's earnings available for fixed charges for the years ended December 31, 2004 and 2003 was approximately $2.3 million and $55.3 million, respectively.