EXHIBIT 12.1
Parker Drilling Company
Computation of Ratio of Earnings to Fixed Charges

 
Nine Months Ended
 
Fiscal Year Ended December 31,
 
September 30, 2014
 
2013
 
2012
 
2011
 
2010
 
2009
Pretax Income
30,415,378

 
52,787,710

 
70,977,206

 
(65,411,628
)
 
11,504,903

 
9,826,774

Fixed Charges
34,284,278

 
50,195,954

 
43,782,341

 
41,864,658

 
40,294,016

 
35,426,257

Amortization of Capitalized Interest
3,073,231

 
4,058,459

 
1,886,832

 
1,556,952

 
1,819,086

 
1,974,592

Capitalized Interest
(798,447
)
 
(2,375,946
)
 
(10,240,245
)
 
(19,271,105
)
 
(13,488,684
)
 
(5,975,973
)
Earnings before Income Tax & Fixed Charges
66,974,440

 
104,666,177

 
106,406,134

 
(41,261,123
)
 
40,129,321

 
41,251,650

Interest Expense
33,485,831

 
47,820,008

 
33,542,096

 
22,593,553

 
26,805,332

 
29,450,284

Capitalized Interest
798,447

 
2,375,946

 
10,240,245

 
19,271,105

 
13,488,684

 
5,975,973

Total Fixed Charges
34,284,278

 
50,195,954

 
43,782,341

 
41,864,658

 
40,294,016

 
35,426,257

Ratio of Earnings to Fixed Charges
2x

 
2.1x

 
2.4x

 
(1
)
 
1.0x

 
1.2x


(1) 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.