Priceline 2014 Annual Report Download - page 154
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Exhibit 12.1
The Priceline Group Inc.
Ratio of Earnings to Fixed Charges
(In thousands)
Year Ended December 31,
2014
2013
2012
2011
2010
Earnings Computation:
Earnings before income taxes
$
2,989,448
$
2,296,537
$
1,761,869
$
1,367,794
$
746,283
Less:
Net income attributable to noncontrolling interests,
before tax
—
(
175
)
(5,922
)
(3,756
)
(834
)
Add:
Fixed charges
112,399
100,798
75,964
40,189
34,975
Total earnings as adjusted
$
3,101,847
$
2,397,160
$
1,831,911
$
1,404,227
$
780,424
Fixed Charges Computation
Interest Expense
$
88,353
$
83,289
$
62,064
$
31,721
$
29,944
Assumed interest element included in rent expense
24,046
17,509
13,900
8,468
5,031
Total fixed charges
$
112,399
$
100,798
$
75,964
$
40,189
$
34,975
Ratio of earnings to fixed charges
27.6
23.8
24.1
34.9
22.3