Exhibit 12.1
AERCAP HOLDINGS N.V. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS
(U.S. dollar amounts in thousands, except ratio amounts)
| Year Ended December 31, | ||||||||||||||||||||
| 2013 | 2014 | 2015 | 2016 | 2017 | ||||||||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense | 226,329 | 780,349 | 1,099,884 | 1,091,861 | 1,112,391 | |||||||||||||||
Capitalized interest | 7,455 | 80,328 | 79,230 | 107,688 | 107,364 | |||||||||||||||
Portion of rent expense representative of interest | 712 | 4,597 | 5,754 | 4,465 | 3,854 | |||||||||||||||
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Total fixed charges | 234,496 | 865,274 | 1,184,868 | 1,204,014 | 1,223,609 | |||||||||||||||
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Earnings: | ||||||||||||||||||||
Income from continuing operations before income tax | 310,791 | 916,898 | 1,365,699 | 1,200,396 | 1,235,872 | |||||||||||||||
Distributed income from equity investees | 4,324 | 25,158 | 2,652 | 9,136 | 8,305 | |||||||||||||||
Fixed charged from above | 234,496 | 865,274 | 1,184,868 | 1,204,014 | 1,223,609 | |||||||||||||||
Less capitalized interest from above | (7,455 | ) | (80,328 | ) | (79,230 | ) | (107,688 | ) | (107,364 | ) | ||||||||||
Amortization of capitalized interest | 2,838 | 3,010 | 4,647 | 8,757 | 11,949 | |||||||||||||||
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Earnings (as defined) | 544,994 | 1,730,012 | 2,478,636 | 2,314,615 | 2,372,371 | |||||||||||||||
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Ratio of earnings to fixed charges | 2.32 | 2.00 | 2.09 | 1.92 | 1.94 | |||||||||||||||
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