EX-12.1 66 d578927dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

The following table sets forth MPT Operating Partnership, L.P.’s ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred dividends for the periods indicated below.

 

    Three
Months
Ended
March 31,
2013		     Year
Ended
December  31,
2012		     Year
Ended
December  31,
2011		     Year
Ended
December  31,
2010		     Year
Ended
December  31,
2009		     Year
Ended
December  31,
2008		  

Income (Loss) From Continuing Operations Before Income Taxes

   $ 26,210      $ 75,235      $ 14,486      $ 3,391      $ 23,293      $ 8,774   

Fixed Charges

     15,780        60,011        58,964        40,814        37,685        42,447   

Amortization of Capitalized Interest

     67        227        204        204        204        204   

Capitalized Interest

     (311 )      (1,596 )      (896 )      (63 )      —          —     

Earnings

   $ 41,746      $ 133,877      $ 72,758      $ 44,346      $ 61,182      $ 51,425   

Interest Expense/Debt Refinancing Costs

   $ 15,424      $ 58,243      $ 58,026      $ 40,704      $ 37,651      $ 42,405   

Portion of Rent Related to Interest

     45        172        42        47        34        42   

Capitalized Interest

     311        1,596        896        63        —          —     

Fixed Charges

   $ 15,780      $ 60,011      $ 58,964      $ 40,814      $ 37,685      $ 42,447   

Preferred Stock Dividends

     —          —          —          —          —          —     

Combined Fixed Charges and Preferred Stock Dividends

   $ 15,780      $ 60,011      $ 58,964      $ 40,814      $ 37,685      $ 42,447   

Ratio of Earnings to Fixed Charges

     2.65x        2.23x        1.23x        1.09x        1.62x        1.21x   

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     2.65x        2.23x        1.23x        1.09x        1.62x        1.21x   

Deficiency

Our ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Our ratio of earnings to combined fixed charges and preferred dividends is computed by dividing earnings by combined fixed charges and preferred dividends. For these purposes, “earnings” is the amount resulting from adding together income (loss) from continuing operations, fixed charges, and amortization of capitalized interest and subtracting interest capitalized. “Fixed charges” is the amount resulting from adding together interest expensed and capitalized; amortized premiums, discounts and capitalized expenses related to indebtedness; and the interest portion of rent. “Combined fixed charges and preferred dividends” is the amount resulting from adding together fixed changes and preferred dividends paid and accrued for each respective period.