EX-12.1 10 aag-ex121x2014630.htm EXHIBIT AAG - EX 12.1 - 2014.6.30


Exhibit 12.1

American Airlines Group Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(In millions)

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Income (loss) before income taxes
$
1,204

 
$
220

 
$
1,696

 
$
(144
)
Add: Total fixed charges (per below)
475

 
434

 
979

 
953

Less: Interest capitalized
15

 
13

 
28

 
25

Total earnings before income taxes
1,664

 
641

 
2,647

 
784

Fixed charges:
 
 
 
 
 
 
 
Interest (1)
230

 
173

 
486

 
439

Portion of rental expense representative of the interest factor
245

 
261

 
493

 
514

Total fixed charges
475

 
434

 
979

 
953

Ratio of earnings to fixed charges
3.50

 
1.49

 
2.70

 
—

Coverage deficiency
$
—

 
$
—

 
$
—

 
$
169


(1) 
The three and six months ended June 30, 2014 includes non-cash interest accretion related to outstanding Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations.