EX-12.1
2
amzn-20141231xex121.htm
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in millions)
Year Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||||
Income before income taxes | $ | (111 | ) | $ | 506 | $ | 544 | $ | 934 | $ | 1,497 | |||||||||
Fixed charges, excluding capitalized interest | 283 | 197 | 133 | 108 | 66 | |||||||||||||||
Total earnings available for fixed charges | $ | 172 | $ | 703 | $ | 677 | $ | 1,042 | $ | 1,563 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest and debt expense (1) | $ | 215 | $ | 143 | $ | 93 | $ | 65 | $ | 39 | ||||||||||
Assumed interest element included in rent expense | 74 | 57 | 41 | 43 | 27 | |||||||||||||||
Total Fixed charges | $ | 289 | $ | 200 | $ | 134 | $ | 108 | $ | 66 | ||||||||||
Ratio of earnings to fixed charges (2) | — | 3.52 | 5.07 | 9.61 | 23.68 | |||||||||||||||
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(1) | Includes amortization of debt-related expenses plus interest capitalized during the period. |
(2) | In 2014, our earnings were insufficient to cover fixed charges by $117 million. |