Exhibit 12.1

DIAMOND OFFSHORE DRILLING, INC.

Statement re Computation of Ratios

(In Thousands of Dollars)

Ratio of Earnings to Fixed Charges:

	Year Ended December 31,
	2011			2010		2009		2008			2007
Computation of Earnings:
Pretax income (loss) from continuing operations	$	1,179,271		$	1,336,016	$	1,868,431	$	1,847,046		$	1,243,372
Less Interest capitalized during the period and actual preferred dividend requirements of majority-owned subsidiaries and 50%-owned persons included in fixed charges but not deducted from pretax income from above		(11,212	)		—		—		(16,870	)		(19,320	)
Add: Previously capitalized interest amortized during the period		3,400			3,400		3,400		2,428			1,928
Total earnings (losses), before fixed charge addition		1,171,459			1,339,416		1,871,831		1,832,604			1,225,980
Computation of Fixed Charges:
Interest, including interest capitalized		87,425			93,334		51,585		28,842			40,648
Total fixed charges		87,425			93,334		51,585		28,842			40,648
Total Earnings (Losses) and Fixed Charges	$	1,258,884		$	1,432,750	$	1,923,416	$	1,861,446		$	1,266,628
Ratio of Earnings (Losses) to Fixed Charges (1)		14.40			15.35		37.29		64.54			31.16

(1) For purposes of this ratio, fixed charges include (i) interest, whether expensed or capitalized, (ii) amortization of debt issuance costs, whether expensed or capitalized, and (iii) a portion of rent expense, which we believe represents the interest factor attributable to rent.