EX-12.1 3 hp-20170930ex1216a77e7.htm EX-12.1

Exhibit 12.1

HELMERICH & PAYNE, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

($ in thousands, except ratio)

| Years Ended September 30,
| 2017 | 2016 | 2015 | 2014 | 2013
Fixed Charges |  |  |  |  |
Interest Expense | $ 19,747 | $ 22,913 | $ 15,023 | $ 4,657 | $ 6,126
Interest Capitalized During the Period | 288 | 2,759 | 6,951 | 7,677 | 8,788
Net Amortization of Debt Discount and Premium and Issuance Expense | 0 | 0 | 59 | 400 | 409
Interest Portion of Rental Expense | 970 | 959 | 877 | 826 | 692
Total Fixed Charges Denominator | $ 21,005 | $ 26,631 | $ 22,910 | $ 13,560 | $ 16,015
Earnings |  |  |  |  |
Pretax Income from Continuing Operations | $ (184,598) | $ (72,667) | $ 661,879 | $ 1,094,658 | $ 1,114,226
Fixed Charges Calculated Above | 21,005 | 26,631 | 22,910 | 13,560 | 16,015
Less Interest Capitalized During the Period | (288) | (2,759) | (6,951) | (7,677) | (8,788)
Current Period Amortization of Interest Capitalized in Prior Periods | 4,541 | 4,447 | 4,357 | 3,963 | 3,621
Earnings Numerator | $ (159,340) | $ (44,348) | $ 682,195 | $ 1,104,504 | $ 1,125,074
Ratio of Earnings to Fixed Charges | -7.6x | -1.7x | 29.8x | 81.5x | 70.3x