EX-12.1 2 h65874exv12w1.htm EX-12.1 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,
    2008   2007   2006   2005   2004
Computation of Earnings:
                                        
 
                                        
Pretax income (loss) from continuing operations
   $ 1,847,613     $ 1,246,537     $ 966,332     $ 356,395     $ (3,533 )
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
     (16,870 )     (18,544 )     (9,796 )     (742 )     —  
Add: Previously capitalized interest amortized during the period
     1,881       1,449       1,249       1,249       1,249  
     
Total earnings (losses), before fixed charge addition
     1,832,624       1,229,442       957,785       356,902       (2,284 )
     
 
                                        
Computation of Fixed Charges:
                                        
 
                                        
Interest, including interest capitalized
     28,842       39,267       35,132       43,574       30,330  
     
Total fixed charges
     28,842       39,267       35,132       43,574       30,330  
     
 
                                        
Total Earnings (Losses) and Fixed Charges
   $ 1,861,466     $ 1,268,709     $ 992,917     $ 400,476     $ 28,046  
     
 
                                        
Ratio of Earnings (Losses) to Fixed Charges (1)
     64.54       32.31       28.26       9.19       N/A  
     
 
(1)   The deficiency in our earnings available for fixed charges for the year ended December 31, 2004 was approximately $2.3 million. For purposes of this ratio, fixed charges include (i) interest, whether expensed or capitalized, (ii) amortization of debt issuance costs, whether expensed or capitalized, and (iii) a portion of rent expense, which we believe represents the interest factor attributable to rent.

92