Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - AIR LEASE CORP | al-20151231ex322c237c2.htm |
| EX-10.8 - EX-10.8 - AIR LEASE CORP | al-20151231ex108f91ce5.htm |
| EX-31.2 - EX-31.2 - AIR LEASE CORP | al-20151231ex312723669.htm |
| EX-32.1 - EX-32.1 - AIR LEASE CORP | al-20151231ex3218ff803.htm |
| EX-10.7 - EX-10.7 - AIR LEASE CORP | al-20151231ex107be7c41.htm |
| EX-31.1 - EX-31.1 - AIR LEASE CORP | al-20151231ex311eaf74e.htm |
| EX-23.1 - EX-23.1 - AIR LEASE CORP | al-20151231ex23138bd2f.htm |
| EX-21.1 - EX-21.1 - AIR LEASE CORP | al-20151231ex2114b28a9.htm |
| 10-K - 10-K - AIR LEASE CORP | al-20151231x10k.htm |
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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|
Year Ended December 31, |
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|
(in thousands, except ratio) |
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2015 |
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|
2014 |
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2013 |
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2012 |
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2011 |
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Earnings: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
253,391 |
|
$ |
255,998 |
|
$ |
190,411 |
|
$ |
131,919 |
|
$ |
53,232 |
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Add: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
139,562 |
|
|
138,778 |
|
|
103,031 |
|
|
72,054 |
|
|
29,609 |
|
|
Fixed charges |
|
|
306,937 |
|
|
263,982 |
|
|
225,740 |
|
|
167,638 |
|
|
68,797 |
|
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Less: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
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Capitalized interest |
|
|
(40,118) |
|
|
(42,775) |
|
|
(32,659) |
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|
(19,388) |
|
|
(10,390) |
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|
Earnings as adjusted (A) |
|
$ |
659,772 |
|
$ |
615,983 |
|
$ |
486,523 |
|
$ |
352,223 |
|
$ |
141,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Fixed charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest expense |
|
$ |
266,144 |
|
$ |
220,590 |
|
$ |
192,370 |
|
$ |
147,413 |
|
$ |
57,692 |
|
|
Capitalized interest |
|
|
40,118 |
|
|
42,775 |
|
|
32,659 |
|
|
19,388 |
|
|
10,390 |
|
|
Interest factors of rents(1) |
|
|
675 |
|
|
617 |
|
|
711 |
|
|
837 |
|
|
715 |
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|
Fixed charges as adjusted (B) |
|
$ |
306,937 |
|
$ |
263,982 |
|
$ |
225,740 |
|
$ |
167,638 |
|
$ |
68,797 |
|
|
Ratio of earnings to fixed charges ((A) divided by (B)) |
|
|
2.15 |
|
|
2.33 |
|
|
2.16 |
|
|
2.10 |
|
|
2.05 |
|
(1)Estimated to be 1/3 of rent expense.