AIR LEASE CORP - FORM 10-K - EX-12.1 - February 26, 2015

Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - AIR LEASE CORPFinancial_Report.xls
EX-31.1 - EX-31.1 - AIR LEASE CORPa2223178zex-31_1.htm
EX-32.2 - EX-32.2 - AIR LEASE CORPa2223178zex-32_2.htm
EX-32.1 - EX-32.1 - AIR LEASE CORPa2223178zex-32_1.htm
EX-23.1 - EX-23.1 - AIR LEASE CORPa2223178zex-23_1.htm
EX-31.2 - EX-31.2 - AIR LEASE CORPa2223178zex-31_2.htm
EX-21.1 - EX-21.1 - AIR LEASE CORPa2223178zex-21_1.htm
EX-10.40 - EX-10.40 - AIR LEASE CORPa2223178zex-10_40.htm
EX-10.41 - EX-10.41 - AIR LEASE CORPa2223178zex-10_41.htm
10-K - 10-K - AIR LEASE CORPa2223178z10-k.htm

QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 12.1


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   Year Ended December 31,    
  
 
   For the Period
from Inception to
December 31, 2010 		 
(in thousands, except ratio)
  2014   2013   2012   2011  

Earnings:

                                

Net income

   $ 255,998   $ 190,411   $ 131,919   $ 53,232   $ (52,040 )

Add:

                                

Provision for income taxes

     138,778     103,031     72,054     29,609     (8,875 )

Fixed charges

     263,982     225,740     167,638     68,797     53,673  

Less:

                                

Capitalized interest

     (42,775 )   (32,659 )   (19,388 )   (10,390 )   (1,769 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings as adjusted (A)

   $ 615,983   $ 486,523   $ 352,223   $ 141,248   $ (9,011 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges

                                

Interest expense

   $ 220,590   $ 192,370   $ 147,413   $ 57,692     51,743  

Capitalized interest

     42,775     32,659     19,388     10,390     1,769  

Interest factors of rents(1)

     617     711     837     715     161  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges as adjusted (B)

   $ 263,982   $ 225,740   $ 167,638   $ 68,797   $ 53,673  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ratio of earnings (loss) to fixed charges ((A) divided by (B))(2)

     2.33     2.16     2.10     2.05     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Estimated to be 1/3 of rent expense.

(2)
For the period from inception to December 31, 2010, earnings were insufficient to cover fixed charges by $62.7 million.



QuickLinks

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Stock widget

Investing forum

AIR LEASE CORP Reports