EXHIBIT 12.1
AERCAP HOLDINGS N.V. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS
(U.S. dollar amounts in thousands, except ratio amounts)
| Three Months Ended March 31, 2018 |
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| Year Ended December 31, | ||||||||||||||||||||||||
| Fixed charges | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||
| Interest expense |
226,329 | 780,349 | 1,099,884 | 1,091,861 | 1,112,391 | 274,449 | ||||||||||||||||||
| Capitalized interest |
7,455 | 80,328 | 79,230 | 107,688 | 107,364 | 22,840 | ||||||||||||||||||
| Portion of rent expense representative of interest |
712 | 4,597 | 5,754 | 4,465 | 3,854 | 917 | ||||||||||||||||||
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| Total fixed charges |
234,496 | 865,274 | 1,184,868 | 1,204,014 | 1,223,609 | 298,206 | ||||||||||||||||||
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| Earnings: |
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| Income from continuing operations before income tax |
310,791 | 916,898 | 1,365,699 | 1,200,396 | 1,235,872 | 301,606 | ||||||||||||||||||
| Distributed income from equity investees |
4,324 | 25,158 | 2,652 | 9,136 | 8,305 | 430 | ||||||||||||||||||
| Fixed charged from above |
234,496 | 865,274 | 1,184,868 | 1,204,014 | 1,223,609 | 298,206 | ||||||||||||||||||
| Less capitalized interest from above |
(7,455 | ) | (80,328 | ) | (79,230 | ) | (107,688 | ) | (107,364 | ) | (22,840 | ) | ||||||||||||
| Amortization of capitalized interest |
2,838 | 3,010 | 4,647 | 8,757 | 11,949 | 3,206 | ||||||||||||||||||
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| Earnings (as defined) |
544,994 | 1,730,012 | 2,478,636 | 2,314,615 | 2,372,371 | 580,608 | ||||||||||||||||||
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| Ratio of earnings to fixed charges |
2.32 | 2.00 | 2.09 | 1.92 | 1.94 | 1.95 | ||||||||||||||||||
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