EX-12.1 2 h23878exv12w1.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1

Grey Wolf, Inc.
Ratio of Earnings to Fixed Charges

                                         
    Year Ended December 31,  
    2004     2003     2002     2001     2000  
 
      
Pretax income from continuing operations:
     14,254       (47,583 )     (29,693 )     111,306       (9,661 )
Add:
                                        
Fixed charges:
                                        
Interest, whether expensed or capitalized
     12,724       24,014       22,748       22,811       22,656  
Amortization of debt expense and discount or premium
     2,035       3,818       1,180       1,280       1,280  
 
      
Earnings as adjusted
     29,013       (19,751 )     (5,765 )     135,397       14,275  
 
      
Fixed charges
     14,759       27,832       23,928       24,091       23,936  
 
      
Ratio of Earnings to Fixed Charges or Deficiency
     1.97       (47,583 )     (29,693 )     5.62       (9,661 )