AMERICAN EXPRESS CREDIT CORP - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 27, 2017

Attached files

file filename
EX-32.1 - EXHIBIT 23.1 - AMERICAN EXPRESS CREDIT CORPd12312016ex231.htm
EX-32.2 - EXHIBIT 32.2 - AMERICAN EXPRESS CREDIT CORPd12312016322.htm
EX-32.1 - EXHIBIT 32.1 - AMERICAN EXPRESS CREDIT CORPd12312016321.htm
EX-31.2 - EXHIBIT 31.2 - AMERICAN EXPRESS CREDIT CORPd12312016ex312.htm
EX-31.1 - EXHIBIT 31.1 - AMERICAN EXPRESS CREDIT CORPd12312016ex311.htm
EX-12.2 - EXHIBIT 12.2 - AMERICAN EXPRESS CREDIT CORPd12312016ex122.htm
EX-4.AA - EXHIBIT 4AA - AMERICAN EXPRESS CREDIT CORPd12312016ex4aa.htm
10-K - CREDCO-10K - AMERICAN EXPRESS CREDIT CORPd12312016.htm
 
EXHIBIT 12.1
AMERICAN EXPRESS CREDIT CORPORATION
 COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

    
Years Ended December 31,
  
(Dollars in Millions)
  
2016
    
2015
    
2014
    
2013
    
2012
  
Earnings:
                              
Net income
  
$
197
    
$
214
    
$
353
    
$
446
    
$
339
  
Income tax provision (benefit)
    
15
      
38
      
(35
)
    
(96
)
    
(51
)
Interest expense including interest expense to affiliates
    
341
      
360
      
502
      
597
      
749
  
Total earnings
  
$
553
    
$
612
    
$
820
    
$
947
    
$
1,037
  
Fixed charges ― Interest expense including interest expense to affiliates
  
$
341
    
$
360
    
$
502
    
$
597
    
$
749
  
Ratio of earnings to fixed charges
    
1.62
      
1.70
      
1.63
      
1.59
      
1.38
  

Interest expense does not include interest on liabilities recorded under GAAP governing accounting for uncertainty in income taxes as Credco’s policy is to classify such interest in income tax provision in the Consolidated Statements of Income.

AMERICAN EXPRESS CREDIT CORP Reports