EXHIBIT 12.1
AERCAP HOLDINGS N.V. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS
(U.S. dollars in thousands, except ratio amounts)
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Year Ended December 31, |
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Three Months Ended March |
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2007 |
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2008 |
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2009 |
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2010 |
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2011 |
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2011 |
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2012 |
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Fixed charges: |
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Interest expense |
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227,765 |
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208,914 |
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86,193 |
|
233,985 |
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292,486 |
|
58,701 |
|
63,967 |
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Capitalized interest |
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10,348 |
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13,582 |
|
23,001 |
|
7,978 |
|
4,439 |
|
927 |
|
1,241 |
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Portion of rent expense representative of interest |
|
778 |
|
851 |
|
784 |
|
762 |
|
732 |
|
178 |
|
172 |
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Total fixed charges |
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238,891 |
|
223,347 |
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109,978 |
|
242,725 |
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297,657 |
|
59,806 |
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65,380 |
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Earnings: |
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Income from continuing operations before income tax |
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191,214 |
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138,643 |
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203,610 |
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258,226 |
|
230,051 |
|
76,294 |
|
67,578 |
|
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Fixed charged from above |
|
238,891 |
|
223,347 |
|
109,978 |
|
242,725 |
|
297,657 |
|
59,806 |
|
65,380 |
|
|
Less capitalized interest from above |
|
(10,348 |
) |
(13,582 |
) |
(23,001 |
) |
(7,978 |
) |
(4,439 |
) |
(927 |
) |
(1,241 |
) |
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Amortization of capitalized interest |
|
387 |
|
623 |
|
1,190 |
|
2,055 |
|
2,467 |
|
565 |
|
617 |
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Earnings (as defined) |
|
420,144 |
|
349,031 |
|
291,777 |
|
495,028 |
|
525,736 |
|
135,738 |
|
132,334 |
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Ratio of earnings to fixed charges |
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1.76 |
|
1.56 |
|
2.65 |
|
2.04 |
|
1.77 |
|
2.27 |
|
2.02 |
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