International Lease Finance 10-Q 2009 Q3 Quarterly report

EXHIBIT 12

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

	September 30,			September 30,
	2009			2008
	(Unaudited)
Earnings:
Net Income	$	685,695		$	588,171
Add:
Provision for income taxes		374,491			325,290
Fixed charges		1,052,619			1,164,082
Less:
Capitalized interest		(8,798	)		(20,681	)
Earnings as adjusted (A)	$	2,104,007		$	2,056,862
Fixed charges and preferred stock dividends:
Preferred dividend requirements	$	3,262		$	3,909
Ratio of income before provision for income taxes to net income		155	%		155	%
Preferred dividend factor on pretax basis		5,056			6,059
Fixed Charges:
Interest expense		1,041,357			1,140,886
Capitalized interest		8,798			20,681
Interest factors of rents		2,464			2,515
Fixed charges as adjusted (B)		1,052,619			1,164,082
Fixed charges and preferred stock dividends (C)	$	1,057,675		$	1,170,141
Ratio of earnings to fixed charges ((A) divided by (B))		2.00	x		1.77	x
Ratio of earnings to fixed charges and preferred stock dividends ((A) divided by (C))		1.99	x		1.76	x