Exhibit 12.1
Apollo Global Management, LLC
Unaudited Computation of Ratio of Earnings to Fixed Charges
($ in Thousands)
Year Ended December 31, | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 30,071 | $ | 22,393 | $ | 29,260 | $ | 37,116 | $ | 40,850 | ||||||||||
Capitalized interest | — | — | — | — | — | |||||||||||||||
Portion of rental expense which represents interest factor | 13,406 | 13,476 | 13,315 | 12,406 | 11,939 | |||||||||||||||
Amortization of debt issuance costs | 1,598 | 3,453 | 765 | 511 | 511 | |||||||||||||||
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Total fixed charges | $ | 45,075 | $ | 39,322 | $ | 43,340 | $ | 50,033 | $ | 53,300 | ||||||||||
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Earnings available for fixed charges: | ||||||||||||||||||||
Income (loss) before income tax provision | 377,228 | 877,167 | 2,481,563 | 3,113,205 | (1,292,270 | ) | ||||||||||||||
Less: (income) loss from equity method investment | (14,855 | ) | (53,856 | ) | (107,350 | ) | (110,173 | ) | (13,923 | ) | ||||||||||
Distributed equity income of affiliated companies | 61,576 | 76,343 | 107,208 | 152,645 | 64,844 | |||||||||||||||
Add: fixed charges | 45,075 | 39,322 | 43,340 | 50,033 | 53,300 | |||||||||||||||
Less: capitalized interest | — | — | — | — | — | |||||||||||||||
Less: net (income) loss - Non-controlling interests | (215,998 | ) | (561,693 | ) | (1,714,603 | ) | (2,736,838 | ) | 835,373 | |||||||||||
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Total earnings (losses) available for fixed charges | $ | 253,026 | $ | 377,283 | $ | 810,158 | $ | 468,872 | $ | (352,676 | ) | |||||||||
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Ratio of earnings to fixed charges | 5.61 | 9.59 | 18.69 | 9.37 | (6.62 | ) | ||||||||||||||
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