Exhibit 12.1
Expedia, Inc.
Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (178,081 | ) | $ | 925,962 | $ | 464,641 | $ | 300,693 | $ | 350,057 | $ | 402,072 | |||||||||||
Fixed charges | 106,671 | 155,036 | 122,128 | 108,388 | 105,215 | 144,051 | ||||||||||||||||||
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Total earnings available for fixed charges | $ | (71,410 | ) | $ | 1,080,998 | $ | 586,769 | $ | 409,081 | $ | 455,272 | $ | 546,123 | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense(1) | $ | 86,899 | $ | 126,195 | $ | 98,089 | $ | 87,358 | $ | 87,788 | $ | 125,591 | ||||||||||||
Interest capitalized during the period | 1,331 | 1,701 | — | — | — | — | ||||||||||||||||||
Estimate of interest within rental expense(2) | 18,441 | 27,140 | 24,039 | 21,030 | 17,427 | 18,460 | ||||||||||||||||||
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Total fixed charges | $ | 106,671 | $ | 155,036 | $ | 122,128 | $ | 108,388 | $ | 105,215 | $ | 144,051 | ||||||||||||
Ratio of earnings to fixed charges | N/A | (3) | 6.97x | 4.80x | 3.77x | 4.33x | 3.79.x |
(1) | Interest expense for the year ended December 2011 includes amounts within discontinued operations. |
(2) | Assumes the interest component of rental expense is approximately one-fourth for all periods presented based on an analysis of net present values. |
(3) | The earnings to fixed charges ratio is negative because of the loss. The total dollar amount of the deficiency is $178 million. |