EX-12.1 2 amzn-20151231xex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in millions)
 
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
$
1,568

 
$
(111
)
 
$
506

 
$
544

 
$
934

Fixed charges, excluding capitalized interest
 
547

 
283

 
197

 
133

 
108

Total earnings available for fixed charges
 
$
2,115

 
$
172

 
$
703

 
$
677

 
$
1,042

 
 
 

 
 

 
 

 
 

 
 

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and debt expense (1)
 
$
484

 
$
215

 
$
143

 
$
93

 
$
65

Assumed interest element included in rent expense
 
88

 
74

 
57

 
41

 
43

Total fixed charges
 
$
572

 
$
289

 
$
200

 
$
134

 
$
108

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
 
3.70

 
—

 
3.52

 
5.07

 
9.61

___________________
 
(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.