EXHIBIT 12.1
AERCAP HOLDINGS N.V. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS
(U.S. dollar amounts in thousands, except ratio amounts)
| Nine Months Ended September 30, 2017 | ||||||||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest expense | 286,019 | 226,329 | 780,349 | 1,099,884 | 1,091,861 | 840,891 | ||||||||||||||||||
Capitalized interest | 2,616 | 7,455 | 80,328 | 79,230 | 107,688 | 82,051 | ||||||||||||||||||
Portion of rent expense representative of interest | 698 | 712 | 4,597 | 5,754 | 4,465 | 2,853 | ||||||||||||||||||
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Total fixed charges | 289,333 | 234,496 | 865,274 | 1,184,868 | 1,204,014 | 925,795 | ||||||||||||||||||
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Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income tax | 154,879 | 310,791 | 916,898 | 1,365,699 | 1,200,396 | 917,589 | ||||||||||||||||||
Distributed income from equity investees | 1,848 | 4,324 | 25,158 | 2,652 | 9,136 | 4,866 | ||||||||||||||||||
Fixed charged from above | 289,333 | 234,496 | 865,274 | 1,184,868 | 1,204,014 | 925,795 | ||||||||||||||||||
Less capitalized interest from above | (2,616 | ) | (7,455 | ) | (80,328 | ) | (79,230 | ) | (107,688 | ) | (82,051 | ) | ||||||||||||
Amortization of capitalized interest | 2,743 | 2,838 | 3,010 | 4,647 | 8,757 | 8,422 | ||||||||||||||||||
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Earnings (as defined) | 446,187 | 544,994 | 1,730,012 | 2,478,636 | 2,314,615 | 1,774,621 | ||||||||||||||||||
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Ratio of earnings to fixed charges | 1.54 | 2.32 | 2.00 | 2.09 | 1.92 | 1.92 | ||||||||||||||||||
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