EX-12.1 2 lho-2012x1231x10kxex121.htm EXHIBIT LHO-2012-12.31-10K-Ex 12.1


Exhibit 12.1
LaSalle Hotel Properties
Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Share Dividends
(in thousands, except ratio data)
(unaudited)
 
 
 
For the year ended December 31,
 
 
2012
 
2011
 
2010
 
2009
 
2008
 
 
 
 
 
 
(A)
 
(B)
 
 
Net income (loss) attributable to common shareholders
 
$
45,146

 
$
12,934

 
$
(24,793
)
 
$
(18,770
)
 
$
10,630

Discontinued operations
 
0

 
(796
)
 
851

 
(2,412
)
 
(7,444
)
Income tax expense (benefit)
 
9,062

 
7,048

 
5,075

 
4,590

 
(1,017
)
Noncontrolling interests
 
281

 
(1
)
 
(191
)
 
352

 
5,239

Fixed charges
 
74,999

 
70,115

 
63,454

 
65,042

 
74,229

Impairment of investment in hotel property
 
0

 
0

 
8,427

 
0

 
0

Amortization of capitalized interest
 
840

 
792

 
749

 
743

 
576

Distributions from unconsolidated entities
 
0

 
0

 
0

 
3

 
25

Capitalized interest
 
(370
)
 
(459
)
 
(200
)
 
(703
)
 
(3,525
)
Earnings
 
$
129,958

 
$
89,633

 
$
53,372

 
$
48,845

 
$
78,713

Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest
 
$
50,981

 
$
38,737

 
$
35,593

 
$
36,956

 
$
46,859

Capitalized interest
 
370

 
459

 
200

 
703

 
3,525

Amort. of discounts and capitalized cost related to indebtness
 
1,915

 
967

 
907

 
995

 
1,348

Preference security dividends
 
21,733

 
29,952

 
26,754

 
26,388

 
22,497

Total fixed charges and preference security dividends
 
$
74,999

 
$
70,115

 
$
63,454

 
$
65,042

 
$
74,229

Ratio of earnings to combined fixed charges and preferred share dividends
 
1.73

 
1.28

 
0.84

 
0.75

 
1.06

 
(A) 
The shortfall of earnings to combined fixed charges and preferred share dividends for the year ended December 31, 2010 was approximately $10,082.
(B) 
The shortfall of earnings to combined fixed charges and preferred share dividends for the year ended December 31, 2009 was approximately $16,197.