Attached files
| file | filename |
|---|---|
| 10-K - 10-K - AIR LEASE CORP | al-20161231x10k.htm |
| EX-32.2 - EX-32.2 - AIR LEASE CORP | al-20161231ex3225b6f59.htm |
| EX-32.1 - EX-32.1 - AIR LEASE CORP | al-20161231ex321107c8e.htm |
| EX-31.2 - EX-31.2 - AIR LEASE CORP | al-20161231ex31227f560.htm |
| EX-31.1 - EX-31.1 - AIR LEASE CORP | al-20161231ex311a04ac1.htm |
| EX-23.1 - EX-23.1 - AIR LEASE CORP | al-20161231ex231aef4ac.htm |
| EX-21.1 - EX-21.1 - AIR LEASE CORP | al-20161231ex211849f87.htm |
| EX-10.36 - EX-10.36 - AIR LEASE CORP | al-20161231ex103678861.htm |
| EX-10.35 - EX-10.35 - AIR LEASE CORP | al-20161231ex103557f10.htm |
| EX-10.28 - EX-10.28 - AIR LEASE CORP | al-20161231ex10286e587.htm |
| EX-10.21 - EX-10.21 - AIR LEASE CORP | al-20161231ex102103f89.htm |
| EX-10.12 - EX-10.12 - AIR LEASE CORP | al-20161231ex10127cdbb.htm |
| EX-10.11 - EX-10.11 - AIR LEASE CORP | al-20161231ex10116d14b.htm |
| EX-10.10 - EX-10.10 - AIR LEASE CORP | al-20161231ex101077afe.htm |
EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Year Ended |
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December 31, |
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(in thousands, except ratio) |
|
2016 |
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2015 |
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2014 |
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2013 |
|
2012 |
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Earnings: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net income |
|
$ |
374,925 |
|
$ |
253,391 |
|
$ |
255,998 |
|
$ |
190,411 |
|
$ |
131,919 |
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Add: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Provision for income taxes |
|
|
205,313 |
|
|
139,562 |
|
|
138,778 |
|
|
103,031 |
|
|
72,054 |
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|
Fixed charges |
|
|
327,814 |
|
|
306,937 |
|
|
263,982 |
|
|
225,740 |
|
|
167,638 |
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Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Capitalized interest |
|
|
(40,883) |
|
|
(40,118) |
|
|
(42,775) |
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|
(32,659) |
|
|
(19,388) |
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|
Earnings as adjusted (A) |
|
$ |
867,169 |
|
$ |
659,772 |
|
$ |
615,983 |
|
$ |
486,523 |
|
$ |
352,223 |
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|
|
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|
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Fixed charges |
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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Interest expense |
|
$ |
286,201 |
|
$ |
266,144 |
|
$ |
220,590 |
|
$ |
192,370 |
|
$ |
147,413 |
|
|
Capitalized interest |
|
|
40,883 |
|
|
40,118 |
|
|
42,775 |
|
|
32,659 |
|
|
19,388 |
|
|
Interest factors of rents(1) |
|
|
730 |
|
|
675 |
|
|
617 |
|
|
711 |
|
|
837 |
|
|
Fixed charges as adjusted (B) |
|
$ |
327,814 |
|
$ |
306,937 |
|
$ |
263,982 |
|
$ |
225,740 |
|
$ |
167,638 |
|
|
Ratio of earnings (loss) to fixed charges ((A) divided by (B)) |
|
|
2.65 |
|
|
2.15 |
|
|
2.33 |
|
|
2.16 |
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|
2.10 |
|
(1)Estimated to be 1/3 of rent expense.