INTERNATIONAL LEASE FINANCE CORP - FORM 10-Q - EX-12 - May 10, 2011

Attached files

file filename
10-Q - FORM 10-Q - INTERNATIONAL LEASE FINANCE CORPv59474e10vq.htm
EX-10.2 - EX-10.2 - INTERNATIONAL LEASE FINANCE CORPv59474exv10w2.htm
EX-32.1 - EX-32.1 - INTERNATIONAL LEASE FINANCE CORPv59474exv32w1.htm
EX-31.2 - EX-31.2 - INTERNATIONAL LEASE FINANCE CORPv59474exv31w2.htm
EX-31.1 - EX-31.1 - INTERNATIONAL LEASE FINANCE CORPv59474exv31w1.htm
EX-10.3 - EX-10.3 - INTERNATIONAL LEASE FINANCE CORPv59474exv10w3.htm
EX-10.4 - EX-10.4 - INTERNATIONAL LEASE FINANCE CORPv59474exv10w4.htm
EXHIBIT 12
INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS FOR THE THREE MONTHS ENDED MARCH 31, 2011 and 2010
(Dollars in thousands)
                 
    March 31,     March 31,  
    2011     2010  
    (Unaudited)  
Earnings:
                
Net Income
   $ 73,721     $ (62,926 )
Add:
                
Provision for income taxes
     43,641       (35,686 )
Fixed charges
     410,490       337,135  
Less:
                
Capitalized interest
     (2,106 )     (1,474 )
 
            
Earnings as adjusted (A)
   $ 525,746     $ 237,049  
 
            
Fixed charges and preferred stock dividends:
                
Preferred dividend requirements
   $ 175     $ 87  
Ratio of income before provision for income taxes to net income
     159 %     157 %
 
            
Preferred dividend factor on pretax basis
     278       137  
 
            
Fixed Charges:
                
Interest expense
     407,500       334,866  
Capitalized interest
     2,106       1,474  
Interest factors of rents
     884       795  
 
            
Fixed charges as adjusted (B)
     410,490       337,135  
 
            
 
                
Fixed charges and preferred stock dividends (C)
   $ 410,768     $ 337,272  
 
            
 
                
Ratio of earnings to fixed charges ((A) divided by (B))
     1.28x       — (a)
 
            
 
                
Ratio of earnings to fixed charges and preferred stock dividends ((A) divided by (C))
     1.28x       —  
 
            
 
(a)
 
In the three months ended March 31, 2010, earnings were insufficient to cover fixed charges by $100.1 million due to non-cash impairment and lease related charges aggregating $437.4 million.

-60-

INTERNATIONAL LEASE FINANCE CORP Reports