International Lease Finance 10-Q 2009 Q2 Quarterly report

EXHIBIT 12

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS FOR THE SIX MONTHS ENDED JUNE 30, 2009 and 2008
(Dollars in thousands)

	June 30,			June 30,
	2009			2008
	(Unaudited)
Earnings:
Net Income	$	439,882		$	363,565
Add:
Provision for income taxes		239,417			200,630
Fixed charges		717,427			763,236
Less:
Capitalized interest		(7,216	)		(15,095	)
Earnings as adjusted (A)	$	1,389,510		$	1,312,336
Fixed charges and preferred stock dividends:
Preferred dividend requirements	$	2,560		$	2,601
Ratio of income before provision for income taxes to net income		154	%		155	%
Preferred dividend factor on pretax basis		3,942			4,032
Fixed Charges:
Interest expense		708,607			746,533
Capitalized interest		7,216			15,095
Interest factors of rents		1,604			1,608
Fixed charges as adjusted (B)		717,427			763,236
Fixed charges and preferred stock dividends (C)	$	721,369		$	767,268
Ratio of earnings to fixed charges ((A) divided by (B))		1.94	x		1.72	x
Ratio of earnings to fixed charges and preferred stock dividends ((A) divided by (C))		1.93	x		1.71	x

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