EX-12.1 2 amzn-20141231xex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AMZN-2014.12.31-EX12.1


Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in millions)
 
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
(111
)
 
$
506

 
$
544

 
$
934

 
$
1,497

Fixed charges, excluding capitalized interest
 
283

 
197

 
133

 
108

 
66

Total earnings available for fixed charges
 
$
172

 
$
703

 
$
677

 
$
1,042

 
$
1,563

 
 
 

 
 

 
 

 
 

 
 

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and debt expense (1)
 
$
215

 
$
143

 
$
93

 
$
65

 
$
39

Assumed interest element included in rent expense
 
74

 
57

 
41

 
43

 
27

Total Fixed charges
 
$
289

 
$
200

 
$
134

 
$
108

 
$
66

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
 
—

 
3.52

 
5.07

 
9.61

 
23.68

___________________
 
(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.