EX-12.1 2 sbraex1212013q1.htm STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES SBRA EX 12.1 2013 Q1




SABRA HEALTH CARE REIT, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)

 
 
 
Three Months Ended March 31,
 
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
Pre-tax net income
 
$
9,557

 
$
4,405

 
 
Add:
 
 
 
 
 
 
Fixed charges
 
10,010

 
7,705

 
Earnings, as adjusted
 
$
19,567

 
$
12,110

 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
Interest expensed and capitalized
 
$
9,435

 
$
7,136

 
 
Amortized premiums, discounts and capitalized expenses related to indebtedness
 
567

 
562

 
 
Estimate of interest within rental expense
 
8

 
7

 
Fixed charges, as adjusted
 
10,010

 
7,705

 
Preferred stock dividends (1)
 
304

 
—

 
Combined fixed charges and preferred stock dividends
 
$
10,314

 
$
7,705

 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred stock dividends
 
1.90
x
 
1.57
x
 

(1) The Company did not have any preferred stock outstanding for the three months ended March 31, 2012.