EX-12.1 3 aag-ex121x2014930.htm EXHIBIT AAG - EX 12.1 - 2014.9.30


Exhibit 12.1

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

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Income before income taxes
$
949

 
$
289

 
$
2,645

 
$
145

Add: Total fixed charges (per below)
465

 
499

 
1,443

 
1,452

Less: Interest capitalized
16

 
10

 
43

 
35

Total earnings before income taxes
1,398

 
778

 
4,045

 
1,562

Fixed charges:
 
 
 
 
 
 
 
Interest (1)
226

 
236

 
710

 
675

Portion of rental expense representative of the interest factor
239

 
263

 
733

 
777

Total fixed charges
465

 
499

 
1,443

 
1,452

Ratio of earnings to fixed charges
3.01

 
1.56

 
2.80

 
1.08


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