EXHIBIT 12.1
Parker Drilling Company
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)


 
Fiscal Year Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Pretax Income
(71,971
)
 
48,537

 
52,787

 
70,977

 
(65,412
)
Fixed Charges
45,380

 
45,436

 
50,196

 
43,782

 
41,865

Amortization of Capitalized Interest
3,793

 
3,939

 
4,058

 
1,887

 
1,557

Capitalized Interest
(224
)
 
(1,171
)
 
(2,376
)
 
(10,240
)
 
(19,271
)
Earnings before Income Tax & Fixed Charges
(23,022
)
 
96,741

 
104,665

 
106,406

 
(41,261
)
Interest Expense
45,155

 
44,265

 
47,820

 
33,542

 
22,594

Capitalized Interest
224

 
1,171

 
2,376

 
10,240

 
19,271

Total Fixed Charges
45,379

 
45,436

 
50,196

 
43,782

 
41,865

Ratio of Earnings to Fixed Charges
(1)

 
2.1x

 
2.1x

 
2.4x

 
(2)

(1)     For the year ended December 31, 2015, earnings were deficient to cover fixed charges by $23.0 million.
(2)     For the year ended December 31, 2011, earnings were deficient to cover fixed charges by $41.3 million, which was primarily due to a pre-tax, non-cash charge to earnings of $170.0 million related to the impairment of our two Alaska rigs.