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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, 2013 and 2012
(Dollars in thousands)
| September 30, 2013 | September 30, 2012 | |||||
---|---|---|---|---|---|---|---|
| (Unaudited) | ||||||
Earnings: | |||||||
Net (loss) income | $ | (599,292 | ) | $ | 339,666 | ||
Add: | |||||||
(Benefit) provision for income taxes | (339,557 | ) | (65,990 | ) | |||
Fixed charges | 1,109,588 | 1,181,226 | |||||
Less: | |||||||
Capitalized interest | (17,336 | ) | (11,562 | ) | |||
Earnings, as adjusted (A) | $ | 153,403 | $ | 1,443,340 | |||
Fixed charges and preferred stock dividends: | |||||||
Preferred dividend requirements | $ | 271 | $ | 300 | |||
Ratio of (loss) income before (benefit) provision for income taxes to net (loss) income | 157 | % | 81 | % | |||
Preferred dividend factor on pretax basis | 425 | 243 | |||||
Fixed Charges: | |||||||
Interest expense | 1,088,655 | 1,165,844 | |||||
Capitalized interest | 17,336 | 11,562 | |||||
Interest factors of rents | 3,597 | 3,820 | |||||
Fixed charges, as adjusted (B) | 1,109,588 | 1,181,226 | |||||
Fixed charges and preferred stock dividends (C) | $ | 1,110,013 | $ | 1,181,469 | |||
Ratio of earnings to fixed charges ((A) divided by (B)) | — | (a) | 1.22x | ||||
Ratio of earnings to fixed charges and preferred stock dividends ((A) divided by (C)) | — | (a) | 1.22x | ||||
- (a)
- In the nine months ended September 30, 2013, earnings were insufficient to cover fixed charges by $956.2 million and fixed charges and preferred stock dividends by $956.6 million, due to non-cash impairment charges and fair value adjustments aggregating $1.3 billion.
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, 2013 and 2012 (Dollars in thousands)