Exhibit 12.1
Apollo Global Management, LLC
Unaudited Computation of Ratio of Earnings to Fixed Charges
($ in Thousands)
Year Ended December 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 43,482 | $ | 30,071 | $ | 22,393 | $ | 29,260 | $ | 37,116 | ||||||||||
Capitalized interest | — | — | — | — | — | |||||||||||||||
Portion of rental expense which represents interest factor | 13,072 | 13,406 | 13,476 | 13,315 | 12,406 | |||||||||||||||
Amortization of debt issuance costs | 2,061 | 1,598 | 3,453 | 765 | 511 | |||||||||||||||
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Total fixed charges | $ | 58,615 | $ | 45,075 | $ | 39,322 | $ | 43,340 | $ | 50,033 | ||||||||||
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Earnings available for fixed charges: | ||||||||||||||||||||
Income (loss) before income tax provision | 1,061,014 | 377,228 | 877,167 | 2,481,563 | 3,113,205 | |||||||||||||||
Less: (income) loss from equity method investment | (103,178 | ) | (14,855 | ) | (53,856 | ) | (107,350 | ) | (110,173 | ) | ||||||||||
Distributed equity income of affiliated companies | 102,768 | 61,576 | 76,343 | 107,208 | 152,645 | |||||||||||||||
Add: fixed charges | 58,615 | 45,075 | 39,322 | 43,340 | 50,033 | |||||||||||||||
Less: capitalized interest | — | — | — | — | — | |||||||||||||||
Less: net (income) loss -Non-controlling interests | (567,457 | ) | (215,998 | ) | (561,693 | ) | (1,714,603 | ) | (2,736,838 | ) | ||||||||||
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Total earnings (losses) available for fixed charges | $ | 551,762 | $ | 253,026 | $ | 377,283 | $ | 810,158 | $ | 468,872 | ||||||||||
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Ratio of earnings to fixed charges | 9.41 | 5.61 | 9.59 | 18.69 | 9.37 | |||||||||||||||
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