EX-12.1 3 sir_93018xexhibitx121xwork.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
SELECT INCOME REIT
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios) 
 
 
 
Nine Months Ended
 
Year Ended December 31,
 
 
September 30, 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
 
$
89,787

 
$
66,764

 
$
116,665

 
$
75,419

 
$
105,983

 
$
92,662

Fixed charges
 
69,446

 
92,870

 
82,620

 
73,885

 
12,974

 
13,763

Adjusted earnings
 
$
159,233

 
$
159,634

 
$
199,285

 
$
149,304

 
$
118,957

 
$
106,425

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (including net amortization of debt issuance costs, premiums and discounts)
 
$
69,446

 
$
92,870

 
$
82,620

 
$
73,885

 
$
12,974

 
$
13,763

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.3x

 
1.7x

 
2.4x

 
2.0x

 
9.2x

 
7.7x