Exhibit 12.1
Expedia, Inc.
Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
| Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 340,858 | $ | 276,600 | $ | 925,962 | $ | 464,641 | $ | 300,693 | $ | 350,057 | ||||||||||||
Fixed charges | 163,693 | 212,876 | 155,036 | 122,128 | 108,388 | 105,215 | ||||||||||||||||||
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Total earnings available for fixed charges | $ | 504,551 | $ | 489,476 | $ | 1,080,998 | $ | 586,769 | $ | 409,081 | $ | 455,272 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 129,639 | $ | 173,148 | $ | 126,195 | $ | 98,089 | $ | 87,358 | $ | 87,788 | ||||||||||||
Interest capitalized during the period | 2,793 | 2,964 | 1,701 | — | — | — | ||||||||||||||||||
Estimate of interest within rental expense(1) | 31,261 | 36,764 | 27,140 | 24,039 | 21,030 | 17,427 | ||||||||||||||||||
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Total fixed charges | $ | 163,693 | $ | 212,876 | $ | 155,036 | $ | 122,128 | $ | 108,388 | $ | 105,215 | ||||||||||||
Ratio of earnings to fixed charges | 3.08x | 2.30X | 6.97x | 4.80x | 3.77x | 4.33x | ||||||||||||||||||
| (1) | Assumes the interest component of rental expense is approximatelyone-fourth for all periods presented based on an analysis of net present values. |