International Lease Finance 10-K/A 2002 FY Annual report (amended)

EXHIBIT 12

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

			Years Ended December 31,
			Restated			Restated			Restated			Restated			Restated
			2002			2001			2000			1999			1998
			(Dollars in thousands)
Earnings
	Net income		$	528,524		$	517,091		$	470,889		$	461,629		$	373,524
	Add:
		Provision for income taxes(a)		264,779			259,999			235,304			241,776			188,750
		Fixed charges		929,485			905,826			894,146			807,495			778,817
	Less:
		Capitalized interest		58,274			58,845			50,019			45,235			54,297
	Earnings as adjusted (A)		$	1,664,514		$	1,624,071		$	1,550,320		$	1,465,665		$	1,286,794
	Preferred dividend requirements		$	19,645		$	14,624		$	18,570		$	18,131		$	16,965
		Ratio of income before provision for income taxes to net income		150	%		150	%		150	%		152	%		151	%
		Preferred dividend factor on pretax basis		29,468			21,936			27,855			27,559			25,617
	Fixed charges
		Interest expense		846,353			792,611			773,539			686,767			639,964
		Capitalized interest		58,274			58,845			50,019			45,235			54,297
		Interest factor of rents		24,858			54,370			70,588			75,493			84,556
	Fixed charges as adjusted (B)			929,485			905,826			894,146			807,495			778,817
	Fixed charges and preferred stock dividends (C)		$	958,953		$	927,762		$	922,001		$	835,054		$	804,434
Ratio of earnings to fixed charges ((A) divided by (B))				1.79	x		1.79	x		1.73	x		1.82	x		1.65	x
Ratio of earnings to fixed charges and preferred stock dividends ((A) divided by (C))				1.74	x		1.75	x		1.68	x		1.76x			1.60	x

(a) 2001 includes income taxes related to cumulative effect of accounting change.