EX-12.1
2
amzn-20161231xex121.htm
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in millions)
Year Ended December 31, | |||||||||||||||||||
2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||
Earnings available for fixed charges: | |||||||||||||||||||
Income (loss) before income taxes | $ | 544 | $ | 506 | $ | (111 | ) | $ | 1,568 | $ | 3,892 | ||||||||
Fixed charges, excluding capitalized interest | 133 | 197 | 283 | 547 | 598 | ||||||||||||||
Total earnings available for fixed charges | $ | 677 | $ | 703 | $ | 172 | $ | 2,115 | $ | 4,490 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest and debt expense (1) | $ | 93 | $ | 143 | $ | 215 | $ | 484 | $ | 510 | |||||||||
Assumed interest element included in rent expense | 41 | 57 | 74 | 88 | 114 | ||||||||||||||
Total fixed charges | $ | 134 | $ | 200 | $ | 289 | $ | 572 | $ | 624 | |||||||||
Ratio of earnings to fixed charges (2) | 5.07 | 3.52 | — | 3.70 | 7.19 | ||||||||||||||
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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. |