Amazon.com (AMZN) 10-Q 2004 Q2 Quarterly report

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended June 30, 2004			Years Ended December 31,
				2003			2002			2001			2000
	(In thousands)
Net income (loss)	$	187,616		$	35,282		$	(149,132	)	$	(567,277	)	$	(1,411,273	)
Equity in losses of equity-method investees		—			436			4,169			30,327			304,596
Net income (loss) before equity in losses of equity-method investees		187,616			35,718			(144,963	)		(536,950	)		(1,106,677	)
Plus fixed charges:
Interest expense including amortization of debt issuance costs		53,786			129,979			142,925			139,232			130,921
Assumed interest element included in rent expense		3,019			5,718			6,205			8,880			10,773
		56,805			135,697			149,130			148,112			141,694
Adjusted earnings (loss)		244,421			171,415			4,167			(388,838	)		(964,983	)
Fixed charges		(56,805	)		(135,697	)		(149,130	)		(148,112	)		(141,694	)
Excess (deficiency) in earnings to cover fixed charges	$	187,616		$	35,718		$	(144,963	)	$	(536,950	)	$	(1,106,677	)
Ratio of earnings to fixed charges (1)		4.30			1.26			0.03			(2.63	)		(6.81	)

(1) The ratio of earnings to fixed charges is computed by dividing (i) income (loss) before income taxes and losses from equity interests, plus fixed charges by (ii) fixed charges.