EX-12.1 2 amzn-20161231xex121.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,
 
2012
 
2013
 
2014
 
2015
 
2016
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
544

 
$
506

 
$
(111
)
 
$
1,568

 
$
3,892

Fixed charges, excluding capitalized interest
133

 
197

 
283

 
547

 
598

Total earnings available for fixed charges
$
677

 
$
703

 
$
172

 
$
2,115

 
$
4,490

 
 

 
 

 
 

 
 

 
 

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest and debt expense (1)
$
93

 
$
143

 
$
215

 
$
484

 
$
510

Assumed interest element included in rent expense
41

 
57

 
74

 
88

 
114

Total fixed charges
$
134

 
$
200

 
$
289

 
$
572

 
$
624

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
5.07

 
3.52

 
—

 
3.70

 
7.19

___________________
 
(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.