EX-12.1 3 a12312017ex121ratioofearni.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1


                                                

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Distributions


The following table sets forth our ratio of earnings to combined fixed charges and preferred share distributions for each of the periods indicated:

 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Years Ended December 31,
 
 
2017
     
2016
     
2015
     
2014
     
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
(in thousands, except ratio computation)
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
33,272

 
$
53,749

 
$
8,991

 
$
270,077

 
$
71,052

Interest
 
27,623

 
24,651

 
25,924

 
27,060

 
19,378

      Earnings available for fixed charges
 
$
60,895

 
$
78,400

 
$
34,915

 
$
297,137

 
$
90,430

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest
 
$
27,623

 
$
24,651

 
$
25,924

 
$
27,060

 
$
19,378

Preferred share distributions
 
2,457

 
—

 
—

 
—

 
—

      Total fixed charges
 
30,080

 
24,651

 
25,924

 
27,060

 
19,378

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred share distributions (1)
 
2.2

 
3.2

 
1.3

 
11.0

 
4.7