EX-12.1 7 ex12110032017.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1





Western Asset Mortgage Capital Corporation
Ratio of Earning to Fixed Charges
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
 
Years Ended December 31,
 
June 30, 2017
 
2016
 
2015
 
2014
 
2013
 
2012
Earning:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before taxes
$
43,353

 
$
(21,859
)
 
$
(9,484
)
 
$
100,713

 
$
(27,855
)
 
$
57,277

Fixed charges
19,144

 
32,430

 
27,605

 
22,263

 
18,019

 
8,094

Income before fixed charges
$
62,497

 
$
10,571

 
$
18,121

 
$
122,976

 
$
(9,836
)
 
$
65,371

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
19,144

 
32,430

 
27,605

 
22,263

 
18,019

 
8,094

Total fixed charges
$
19,144

 
$
32,430

 
$
27,605

 
$
22,263

 
$
18,019

 
$
8,094

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.26

 
—
 
—
 
5.52

 
—
 
8.08

 
 
 
 
 
 
 
 
 
 
 
 
Deficit
$
—

 
$
(21,859
)
 
$
(9,484
)
 
$
—

 
$
(27,855
)
 
$
—