EXHIBIT 12.1
ENSCO INTERNATIONAL INCORPORATED AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)
September 30, 2008 | September 30, 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income from continuing operations before income tax | $ | 1,058.3 | $ | 914.9 | $ | 1,215.5 | $ | 983.4 | $ | 361.0 | $ | 119.8 | $ | 134.8 | ||||||||||||||
Fixed charges | 21.2 | 30.2 | 38.7 | 41.8 | 43.5 | 46.7 | 43.1 | |||||||||||||||||||||
Amortization of capitalized interest | 1.8 | 1.8 | 2.3 | 2.0 | 1.7 | 1.5 | 1.3 | |||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Interest capitalized | (16.3 | ) | (23.5 | ) | (30.4 | ) | (18.9 | ) | (8.9 | ) | (3.9 | ) | (2.0 | ) | ||||||||||||||
Total | $ | 1,065.0 | $ | 923.4 | $ | 1,226.1 | $ | 1,008.3 | $ | 397.2 | $ | 164.0 | $ | 177.3 | ||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expensed | $ | — | $ | 1.9 | $ | 1.9 | $ | 16.5 | $ | 28.8 | $ | 36.6 | $ | 36.7 | ||||||||||||||
Interest capitalized | 16.3 | 23.5 | 30.4 | 18.9 | 8.9 | 3.9 | 2.0 | |||||||||||||||||||||
Amortization of capitalized debt issuance costs and other debt related costs | 1.5 | 1.8 | 2.4 | 2.6 | 2.8 | 3.2 | 2.7 | |||||||||||||||||||||
Estimated interest within rental expense | 3.4 | 3.0 | 4.0 | 3.8 | 3.0 | 3.0 | 1.7 | |||||||||||||||||||||
Total | $ | 21.2 | $ | 30.2 | $ | 38.7 | $ | 41.8 | $ | 43.5 | $ | 46.7 | $ | 43.1 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 50.2 | 30.6 | 31.7 | 24.1 | 9.1 | 3.5 | 4.1 | |||||||||||||||||||||