EX-12 3 vtr-20121231ex12.htm RATIOS OF EARNINGS TO FIXED CHARGES VTR-2012.12.31 EX 12


Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31,
(dollars in thousands)
 
2012
 
2011
 
2010
 
2009
 
2008
Income before loss from unconsolidated entities, reversal of contingent liability, income taxes, discontinued operations and noncontrolling interest
 
$
280,112

 
$
331,293

 
$
222,871

 
$
188,172

 
$
128,514

Interest expense
 
 
 
 
 
 
 
 
 
 
Senior notes payable and other debt
 
293,401

 
229,346

 
172,474

 
172,358

 
201,022

Distributions from unconsolidated entities
 
10,006

 
3,790

 
689

 
—

 
—

Earnings
 
$
583,519

 
$
564,429

 
$
396,034

 
$
360,530

 
$
329,536

Interest
 
 
 
 
 
 
 
 
 
 
Senior notes payable and other debt expense
 
$
293,401

 
$
229,346

 
$
172,474

 
$
172,358

 
$
201,022

Interest capitalized
 
1,857

 
1,233

 
—

 
304

 
114

Fixed charges
 
$
295,258

 
$
230,579

 
$
172,474

 
$
172,662

 
$
201,136

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
1.98

 
2.45

 
2.30

 
2.09

 
1.64