Amazon.com (AMZN) 8-K Other Events

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in millions)

	Nine Months Ended September 30,			Year Ended December 31,
	2014			2013		2012		2011		2010		2009
Earnings available for fixed charges:
Income before income taxes	$	(540	)	$	506	$	544	$	934	$	1,497	$	1,161
Fixed charges, excluding capitalized interest		190			197		133		108		66		55
Total earnings available for fixed charges	$	(350	)	$	703	$	677	$	1,042	$	1,563	$	1,216
Fixed charges:
Interest and debt expense (1)	$	140		$	143	$	93	$	65	$	39	$	34
Assumed interest element included in rent expense		54			57		41		43		27		21
Total Fixed charges	$	194		$	200	$	134	$	108	$	66	$	55
Ratio of earnings to fixed charges (2)		—			3.52		5.07		9.61		23.68		22.29

(1) Includes amortization of debt-related expenses plus capitalized interest.

(2) For the nine months ended September 30, 2014, earnings were insufficient to cover fixed charges by $350 million.