EX-12.1 5 a13-19666_1ex12d1.htm EX-12.1

Exhibit 12.1

 

 

Senior Housing Properties Trust

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

 

 

Nine Months Ended

 

Year Ended December 31,

 

 

 

September 30, 2013

 

2012

 

2011

 

2010

 

2009

 

2008

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax expense (1)

 

$

103,277

 

$

131,647

 

$

148,128

 

$

116,373

 

$

109,616

 

$

106,479

 

Fixed charges

 

88,536

 

117,240

 

98,262

 

80,017

 

56,404

 

40,154

 

Adjusted earnings

 

$

191,813

 

$

248,887

 

$

246,390

 

$

196,390

 

$

166,020

 

$

146,633

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

88,536

 

$

117,240

 

$

98,262

 

$

80,017

 

$

56,404

 

$

40,154

 

Ratio of earnings to fixed charges

 

2.2x

 

2.1x

 

2.5x

 

2.5x

 

2.9x

 

3.7x

 

 

(1)                      Income from continuing operations before income tax expense is exclusive of equity in earnings of an investee.