EX-12.1 5 snh_063018xexhibitx121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
 
Senior Housing Properties Trust
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
 
 
 
Six Months Ended
June 30,
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 

 
 

 
 

 
 

 
 

Income from continuing operations (including gains on sales of properties, if any) before income tax expense and equity in earnings of an investee
 
$362,707
 
$
151,649

 
$
141,582

 
$
125,474

 
$
162,141

 
$
183,997

Fixed charges
 
88,365

 
165,019

 
167,574

 
150,881

 
135,114

 
117,819

Adjusted earnings
 
$451,072
 
$
316,668

 
$
309,156

 
$
276,355

 
$
297,255

 
$
301,816

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 

 
 

 
 

 
 

 
 

Interest expense (including net amortization of debt premiums and discounts and debt issuance costs)
 
$
88,365

 
$
165,019

 
$
167,574

 
$
150,881

 
$
135,114

 
$
117,819

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
5.1
x
 
1.9
x
 
1.8
x
 
1.8
x
 
2.2
x
 
2.6
x