1 EXHIBIT 12.1 AMAZON.COM, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE PERIOD FROM SIX MONTHS JULY 5, 1994 ENDED (INCEPTION) TO JUNE 30, YEAR ENDED DECEMBER 31, DECEMBER 31, 1998 1997 1996 1995 1994 -------- -------- -------- -------- -------- (IN THOUSANDS) FIXED CHARGES: Interest expense, including amortization of debt expense $ 9,589 $ 279 $ -- $ -- $ -- Assumed interest element included in rent expense 453 666 85 4 -- -------- -------- -------- -------- -------- Total Fixed Charges $ 10,312 $ 945 $ 85 $ 4 $ -- ======== ======== ======== ======== ======== EARNINGS: Income (loss) from continuing operations before income taxes $(30,485) $(27,590) $ (5,777) $ (303) $ (52) Fixed charges per above 10,312 945 85 4 -- -------- -------- -------- -------- -------- Total Earnings $(20,173) $(26,645) $ (5,692) $ (299) $ (52) ======== ======== ======== ======== ======== DEFICIENCY OF EARNINGS AVAILABLE TO COVER FIXED CHARGES $(30,485) $(27,590) $ (5,777) $ (303) $ (52) ======== ======== ======== ======== ========