EX-12.1 7 fexhibit121.htm EXHIBIT 12.1 fexhibit121.htm

 
 
 

Exhibit 12.1


CONTINENTAL AIRLINES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)

 
Nine Months
Years Ended December 31,
 
Ended
  
 
September 30,
          
 
2009
2008
2007
2006
2005
2004
             
Earnings:
            
Earnings (Loss) Before Income Taxes and Minority Interest
(367)
  
(695)
556 
361 
(75)
(455)
Less:
              
Undistributed Earnings (Losses) of Equity Investees
- 
  
9 
18 
36  
62 
66 
  Plus:
              
Interest Expense
274 
  
376 
393 
409 
417 
395 
Capitalized Interest
(25)
  
(33)
(27)
(18)
(12)
(14)
Amortization of Capitalized Interest
27 
  
35 
36 
40 
40 
39 
Portion of Rent Expense Representative of Interest Expense
  691
  
   934
   917
   969
   906
   856
 
  600
  
   608
1,857
1,725
1,214
   755
               
Fixed Charges:
              
Interest Expense
274 
  
376 
393 
409 
417 
395 
Portion of Rent Expense Representative of Interest Expense
 691
  
   934
   917
  969
  906
   856
Total Fixed Charges
  965
  
 1,310
1,310
1,378
1,323
1,251
Coverage Adequacy (Deficiency)
(365)
  
  (702)
   547
   347 
 (109)
 (496)
Coverage Ratio
  N/A
  
  N/A
 1.42
  1.25
  N/A
  N/A