Attached files
| file | filename |
|---|---|
| EX-31.2 - EX-31.2 - AIR LEASE CORP | al-20171231ex312cc77ca.htm |
| 10-K - 10-K - AIR LEASE CORP | al-20171231x10k.htm |
| EX-32.2 - EX-32.2 - AIR LEASE CORP | al-20171231ex322baaf1c.htm |
| EX-32.1 - EX-32.1 - AIR LEASE CORP | al-20171231ex321ff43f0.htm |
| EX-31.1 - EX-31.1 - AIR LEASE CORP | al-20171231ex3110e5c96.htm |
| EX-23.1 - EX-23.1 - AIR LEASE CORP | al-20171231ex2319e1c2d.htm |
| EX-21.1 - EX-21.1 - AIR LEASE CORP | al-20171231ex211e906b3.htm |
| EX-10.99 - EX-10.99 - AIR LEASE CORP | al-20171231ex1099927e4.htm |
| EX-10.80 - EX-10.80 - AIR LEASE CORP | al-20171231ex1080302d3.htm |
| EX-10.79 - EX-10.79 - AIR LEASE CORP | al-20171231ex10792ebbc.htm |
| EX-10.75 - EX-10.75 - AIR LEASE CORP | al-20171231ex107504f3f.htm |
| EX-10.37 - EX-10.37 - AIR LEASE CORP | al-20171231ex103778984.htm |
| EX-10.12 - EX-10.12 - AIR LEASE CORP | al-20171231ex1012b098c.htm |
| EX-10.11 - EX-10.11 - AIR LEASE CORP | al-20171231ex1011e824c.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) |
|
2017 |
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2016 |
|
2015 |
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2014 |
|
2013 |
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|||||
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Earnings: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net income |
|
$ |
756,152 |
|
$ |
374,925 |
|
$ |
253,391 |
|
$ |
255,998 |
|
$ |
190,411 |
|
|
Add: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
(146,622) |
|
|
205,313 |
|
|
139,562 |
|
|
138,778 |
|
|
103,031 |
|
|
Fixed charges |
|
|
334,186 |
|
|
327,814 |
|
|
306,937 |
|
|
263,982 |
|
|
225,740 |
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Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Capitalized interest |
|
|
(46,049) |
|
|
(40,883) |
|
|
(40,118) |
|
|
(42,775) |
|
|
(32,659) |
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|
Earnings as adjusted (A) |
|
$ |
897,667 |
|
$ |
867,169 |
|
$ |
659,772 |
|
$ |
615,983 |
|
$ |
486,523 |
|
|
|
|
|
|
|
|
|
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|
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|
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Fixed charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest expense |
|
$ |
287,371 |
|
$ |
286,201 |
|
$ |
266,144 |
|
$ |
220,590 |
|
$ |
192,370 |
|
|
Capitalized interest |
|
|
46,049 |
|
|
40,883 |
|
|
40,118 |
|
|
42,775 |
|
|
32,659 |
|
|
Interest factors of rents(1) |
|
|
766 |
|
|
730 |
|
|
675 |
|
|
617 |
|
|
711 |
|
|
Fixed charges as adjusted (B) |
|
$ |
334,186 |
|
$ |
327,814 |
|
$ |
306,937 |
|
$ |
263,982 |
|
$ |
225,740 |
|
|
Ratio of earnings (loss) to fixed charges ((A) divided by (B)) |
|
|
2.69 |
|
|
2.65 |
|
|
2.15 |
|
|
2.33 |
|
|
2.16 |
|
(1)Estimated to be 1/3 of rent expense.