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EXHIBIT 12
GLOBAL MARINE INC. AND SUBSIDIARIES
RATIO OF EARNINGS BEFORE FIXED CHARGES TO FIXED CHARGES
($ IN MILLIONS)
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<CAPTION>
Six
Months
Ended
June Years Ended December 31,
30, -------------------------------------
2000 1999 1998 1997 1996 1995
------ ------ ------ ------ ------ -----
<S> <C> <C> <C> <C> <C> <C> <C>
EARNINGS BEFORE FIXED
CHARGES:
Earnings before income
taxes..................... $57.2 $115.3 $284.1 $294.0 $119.7 $55.1
Plus fixed charges (per
computation below)........ 46.5 79.7 118.1 89.4 59.5 44.2
Less capitalized interest.. (17.8) (25.9) (17.2) (20.9) (2.6) (5.6)
----- ------ ------ ------ ------ -----
A $85.9 $169.1 $385.0 $362.5 $176.6 $93.7
=== ===== ====== ====== ====== ====== =====
FIXED CHARGES:
Interest................... $34.1 $ 56.6 $ 46.9 $ 39.7 $ 30.9 $30.2
Interest component of
rental expense............ 12.4 23.1 71.2 49.7 28.6 14.0
----- ------ ------ ------ ------ -----
B $46.5 $ 79.7 $118.1 $ 89.4 $ 59.5 $44.2
=== ===== ====== ====== ====== ====== =====
RATIO OF EARNINGS BEFORE
FIXED CHARGES TO FIXED
CHARGES: A/B 1.85 2.12 3.26 4.05 2.97 2.12
=== ===== ====== ====== ====== ====== =====
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