EX-12.1
2
amzn-20171231xex121.htm
EXHIBIT 12.1
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in millions)
Year Ended December 31, | |||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||
Earnings available for fixed charges: | |||||||||||||||||||
Income (loss) before income taxes | $ | 506 | $ | (111 | ) | $ | 1,568 | $ | 3,892 | $ | 3,806 | ||||||||
Fixed charges, excluding capitalized interest | 197 | 283 | 547 | 598 | 1,044 | ||||||||||||||
Total earnings available for fixed charges | $ | 703 | $ | 172 | $ | 2,115 | $ | 4,490 | $ | 4,850 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest and debt expense (1) | $ | 143 | $ | 215 | $ | 484 | $ | 510 | $ | 875 | |||||||||
Assumed interest element included in rent expense | 57 | 74 | 88 | 114 | 195 | ||||||||||||||
Total fixed charges | $ | 200 | $ | 289 | $ | 572 | $ | 624 | $ | 1,070 | |||||||||
Ratio of earnings to fixed charges (2) | 3.52 | — | 3.70 | 7.19 | 4.53 | ||||||||||||||
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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. |