EX-12.1 4 d554834dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TechnipFMC plc

Computation of Ratio of Earnings to Fixed Charges

(unaudited)

 

     2017     2016     2015  

Fixed Charges:

(in millions of USD)

       

Interest expense

      456.0       114.1       148.9  

Capitalized interest

      1.6       —         —    

Amortized loan costs not recorded as interest expense

      1.9       1.1       1.1  

Estimate of interest expense within rental expense

      123.1       104.5       127.2  
  

 

 

    

 

 

    

 

 

  

Total fixed charges

      582.7       219.7       277.2  
  

 

 

    

 

 

    

 

 

  

Earnings:

       

Income from continuing operations before tax

      679.7       551.4       150.5  

Less income (loss) of noncontrolling interests

      (20.9 )      22.2       0.4  

Less income from equity investees

      (55.6 )      (117.7 )      (51.0 ) 

Plus fixed charges

      582.7       219.7       277.2  

Plus amortization of capitalized interest

      0.9       —         —    

Dividends from equity method investees

      17.7       69.6       24.7  

Less interest capitalized

      (1.6 )      —         —    
  

 

 

    

 

 

    

 

 

  

Total earnings

      1,202.8       745.2       401.8  
  

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      2.1       3.4       1.4