EXHIBIT 12.1

AERCAP HOLDINGS N.V. AND SUBSIDIARIES

STATEMENT REGARDING COMPUTATION OF RATIOS

(U.S. dollar amounts in thousands, except ratio amounts)

 

           Nine Months
Ended
September 30,
2017		  
     Year Ended December 31,    
     2012     2013     2014     2015     2016    

Fixed charges

             

Interest expense

      286,019       226,329       780,349       1,099,884       1,091,861       840,891  

Capitalized interest

      2,616       7,455       80,328       79,230       107,688       82,051  

Portion of rent expense representative of interest

      698       712       4,597       5,754       4,465       2,853  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      289,333       234,496       865,274       1,184,868       1,204,014       925,795  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings:

             

Income from continuing operations before income tax

      154,879       310,791       916,898       1,365,699       1,200,396       917,589  

Distributed income from equity investees

      1,848       4,324       25,158       2,652       9,136       4,866  

Fixed charged from above

      289,333       234,496       865,274       1,184,868       1,204,014       925,795  

Less capitalized interest from above

      (2,616 )      (7,455 )      (80,328 )      (79,230 )      (107,688 )      (82,051 ) 

Amortization of capitalized interest

      2,743       2,838       3,010       4,647       8,757       8,422  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings (as defined)

      446,187       544,994       1,730,012       2,478,636       2,314,615       1,774,621  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      1.54       2.32       2.00       2.09       1.92       1.92