EX-12.1 5 dex121.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 HCPI RATIO OF EARNINGS TO FIXED CHARGES and RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- RATIO OF EARNINGS TO FIXED CHARGES ---------------------------------- Fixed Charges: Interest Expense and Debt Amortization: 78,489 86,747 58,458 37,625 29,505 Pro-Rata Share of Unconsolidated Partnerships' Fixed Charges 530 441 414 777 850 Rental Expense 152 138 119 111 120 Capitalized Interest 243 514 1,223 1,800 1,469 -------- -------- -------- -------- ------ Fixed Charges 79,414 87,840 60,214 40,313 31,944 ======== ======== ======== ======== ====== Earnings: Net Income from Operations 126,529 127,466 91,398 78,654 66,446 Add Back Fixed Charges 79,414 87,840 60,214 40,313 31,944 Less Capitalized Interest (243) (514) (1,223) (1,800) (1,469) -------- -------- -------- -------- ------ Total 205,700 214,792 150,389 117,167 96,921 ======== ======== ======== ======== ====== Ratio of Earnings to Fixed Charges 2.59 2.45 2.50 2.91 3.03 ======== ======== ======== ======== ====== RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED ------------------------------------------------ STOCK DIVIDENDS --------------- Fixed Charges: Interest Expense and Debt Amortization: 78,489 86,747 58,458 37,625 29,505 Pro-Rata Share of Unconsolidated Partnerships' Fixed Charges 530 441 414 777 850 Preferred Stock Dividend 24,900 24,900 17,775 8,532 1,247 Rental Expense 152 138 119 111 120 Capitalized Interest 243 514 1,223 1,800 1,469 -------- -------- -------- -------- ------ Fixed Charges 104,314 112,740 77,989 48,845 33,191 ======== ======== ======== ======== ====== Earnings (see above) 205,700 214,792 150,389 117,167 96,921 ======== ======== ======== ======== ====== Ratio of Earnings to Fixed Charges 1.97 1.91 1.93 2.40 2.92 ======== ======== ======== ======== ======