EX-12.1 2 nxrt-ex121_10.htm EX-12.1 nxrt-ex121_10.htm

 

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (Unaudited)
(dollars in thousands)

 

The following table sets forth our ratio of earnings to combined fixed charges and preferred stock dividends on a historical basis for the periods indicated. The ratio is calculated by dividing earnings by the combined fixed charges and preferred stock dividends.

 

 

For the Year Ended December 31,

 

 

2017

 

2016

 

2015

 

2014

 

2013

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

                    56,359

 

$

                    25,888

 

$

                  (10,992)

 

$

                  (17,533)

 

$

                       (170)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

                    29,576

 

 

                    20,167

 

 

                    17,817

 

 

                      7,274

 

 

                          —

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (income) loss attributable to noncontrolling interests

 

 

                    (2,836)

 

 

                    (4,006)

 

 

                         160

 

 

                      1,932

 

 

                          —

Net income attributable to redeemable noncontrolling interests in the Operating Partnership

 

 

                       (149)

 

 

                          —

 

 

                          —

 

 

                          —

 

 

                          —

Total earnings

 

$

                    82,950

 

$

                    42,049

 

$

                      6,985

 

$

                    (8,327)

 

$

                       (170)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

                    29,576

 

$

                    20,167

 

$

                    17,817

 

$

                      7,274

 

$

                          —

Total fixed charges

 

$

                    29,576

 

$

                    20,167

 

$

                    17,817

 

$

                      7,274

 

$

                          —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends

 

$

                          —

 

$

                          —

 

$

                          —

 

$

                          —

 

$

                          —

Total combined fixed charges and preferred stock dividends

 

$

                    29,576

 

$

                    20,167

 

$

                    17,817

 

$

                      7,274

 

$

                          —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 

                        2.80

 

 

                        2.09

 

 

 —x

 

 

 —x

 

 

  —x1

Deficiency related to ratio of earnings to combined fixed charges and preferred stock dividends

 

 

N/A

 

 

N/A

 

$

                    10,832

 

$

                    15,601

 

 

N/A

 

 

 

 

1 

Because there were no fixed charges in 2013, the ratio is not applicable.