EX-12.1 2 lho-2013x1231x10kxex121.htm EXHIBIT LHO-2013-12.31-10K-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,
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
 
 
 
 
 
 
 
(A)
 
(B)
Net income (loss) attributable to common shareholders
 
$
70,984

 
$
45,146

 
$
12,934

 
$
(24,793
)
 
$
(18,770
)
Discontinued operations
 
0

 
0

 
(796
)
 
851

 
(2,412
)
Income tax expense
 
470

 
9,062

 
7,048

 
5,075

 
4,590

Noncontrolling interests
 
320

 
281

 
(1
)
 
(191
)
 
352

Fixed charges
 
75,550

 
74,999

 
70,115

 
63,454

 
65,042

Impairment of investment in hotel property
 
0

 
0

 
0

 
8,427

 
0

Amortization of capitalized interest
 
683

 
840

 
792

 
749

 
743

Distributions from unconsolidated entities
 
0

 
0

 
0

 
0

 
3

Capitalized interest
 
(649
)
 
(370
)
 
(459
)
 
(200
)
 
(703
)
Earnings
 
$
147,358

 
$
129,958

 
$
89,633

 
$
53,372

 
$
48,845

Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest
 
$
55,263

 
$
50,981

 
$
38,737

 
$
35,593

 
$
36,956

Capitalized interest
 
649

 
370

 
459

 
200

 
703

Amort. of discounts and capitalized cost related to indebtness
 
2,253

 
1,915

 
967

 
907

 
995

Preference security dividends
 
17,385

 
21,733

 
29,952

 
26,754

 
26,388

Total fixed charges and preference security dividends
 
$
75,550

 
$
74,999

 
$
70,115

 
$
63,454

 
$
65,042

Ratio of earnings to combined fixed charges and preferred share dividends
 
1.95

 
1.73

 
1.28

 
0.84

 
0.75

 
(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.