Priceline 2015 Annual Report Download - page 139
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Exhibit 12.1
The Priceline Group Inc.
Ratio of Earnings to Fixed Charges
(In thousands)
Year Ended December 31,
2015
2014
2013
2012
2011
Earnings Computation:
Earnings before income taxes
$ 3,128,320
$ 2,989,448
$ 2,296,537
$ 1,761,869
$ 1,367,794
Less:
Net income attributable to noncontrolling interests, before tax
—
—
(175)
(5,922)
(3,756)
Add:
Fixed charges
189,033
112,399
100,798
75,964
40,189
Total earnings as adjusted
$ 3,317,353
$ 3,101,847
$ 2,397,160
$ 1,831,911
$ 1,404,227
Fixed Charges Computation
Interest Expense
$ 160,229
$ 88,353
$ 83,289
$ 62,064
$ 31,721
Assumed interest element included in rent expense
28,804
24,046
17,509
13,900
8,468
Total fixed charges
$ 189,033
$ 112,399
$ 100,798
$ 75,964
$ 40,189
Ratio of earnings to fixed charges
17.5
27.6
23.8
24.1
34.9