EX-12.1 11 d236616dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Expedia, Inc.

Computation of Ratios of Earnings to Fixed Charges

(in thousands, except ratios)

 

     Six Months Ended
June 30,		     Year Ended December 31,  
     2016     2015      2014      2013      2012      2011  
     (in thousands, except ratios)  

Earnings:

                 

Income (loss) from continuing operations before income taxes

    $ (178,081 )    $ 925,962       $ 464,641       $ 300,693       $ 350,057       $ 402,072   

Fixed charges

      106,671        155,036         122,128         108,388         105,215         144,051   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings available for fixed charges

    $ (71,410 )    $ 1,080,998       $ 586,769       $ 409,081       $ 455,272       $ 546,123   

Fixed Charges:

                 

Interest expense(1)

   $ 86,899      $ 126,195       $ 98,089       $ 87,358       $ 87,788       $ 125,591   

Interest capitalized during the period

      1,331        1,701         —           —           —           —     

Estimate of interest within rental expense(2)

     18,441        27,140         24,039         21,030         17,427         18,460   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    $ 106,671      $ 155,036       $ 122,128       $ 108,388       $ 105,215       $ 144,051   

Ratio of earnings to fixed charges

      N/A (3)       6.97x         4.80x         3.77x         4.33x         3.79.x   

 

(1) Interest expense for the year ended December 2011 includes amounts within discontinued operations.
(2) Assumes the interest component of rental expense is approximately one-fourth for all periods presented based on an analysis of net present values.
(3) The earnings to fixed charges ratio is negative because of the loss. The total dollar amount of the deficiency is $178 million.