HomeAway.com S-4 Registration of securities issued in business combination transactions

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
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
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.