EX-12.1 7 aag-ex121x2014331.htm EXHIBIT AAG - EX 12.1 - 2014.3.31


Exhibit 12.1

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

 
Three Months Ended March 31,
 
2014
 
2013
Income (loss) before income taxes
$
493

 
$
(363
)
Add: Total fixed charges (per below)
504

 
519

Less: Interest capitalized
13

 
12

Total earnings before income taxes
984

 
144

Fixed charges:
 
 
 
Interest (1)
256

 
266

Portion of rental expense representative of the interest factor
248

 
253

Total fixed charges
504

 
519

Ratio of earnings to fixed charges
1.95

 

Coverage deficiency
$

 
$
375


(1) 
The three months ended March 31, 2014 includes non-cash interest accretion related to outstanding Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations.