EX-12.1 2 h33397exv12w1.htm STATEMENT RE COMPUTATION OF RATIOS exv12w1
 

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,  
    2005     2004     2003     2002     2001  
     
Computation of Earnings:
                                        
 
                                        
Pretax income (loss) from continuing operations
   $ 356,395     $ (3,533 )   $ (54,237 )   $ 96,174     $ 260,485  
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
     (742 )     —       (2,201 )     (2,878 )     (2,645 )
Add: Previously capitalized interest amortized during the period
     1,249       1,249       1,166       1,304       1,185  
         
Total earnings (losses), before fixed charge addition
     356,902       (2,284 )     (55,272 )     94,600       259,025  
             
 
                                        
Computation of Fixed Charges:
                                        
 
                                        
Interest, including interest capitalized
     43,574       30,330       26,737       26,933       29,191  
     
Total fixed charges
     43,574       30,330       26,737       26,933       29,191  
             
 
                                        
Total Earnings (Losses) and Fixed Charges
   $ 400,476     $ 28,046     $ (28,535 )   $ 121,533     $ 288,216  
             
 
                                        
Ratio of Earnings (Losses) to Fixed Charges (1)
     9.19       N/A       N/A       4.51       9.87  
             
 
(1)   The deficiency in our earnings available for fixed charges for the years ended December 31, 2004 and 2003 was approximately $2.3 million and $55.3 million, respectively.