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
 
     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  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     234,496       865,274       1,184,868       1,204,014       1,223,609       298,206  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings:

            

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  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings (as defined)

     544,994       1,730,012       2,478,636       2,314,615       2,372,371       580,608  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     2.32       2.00       2.09       1.92       1.94       1.95