EX-12 2 d54641exv12.htm COMPUTATION OF RATIO OF INCOME exv12
 

EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF INCOME FROM CONTINUING OPERATIONS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
Computation of ratio of income from continuing operations to combined fixed charges and preferred stock dividends:
                                         
    Year Ended December 31  
    2007     2006     2005     2004     2003  
 
 
                                        
Fixed charges
   $ 275,648     $ 235,521     $ 106,909     $ 44,939     $ 58,924  
Preferred stock dividends
     20,256       20,256       20,256       20,259       20,273  
 
                              
Combined fixed charges and preferred stock dividends
   $ 295,904     $ 255,777     $ 127,165     $ 65,198     $ 79,197  
 
                              
 
                                        
Fixed charges
   $ 275,648     $ 235,521     $ 106,909     $ 44,939     $ 58,924  
Income from continuing operations
     24,713       3,843       17,195       39,869       58,666  
 
                              
 
                                        
 
   $ 300,361     $ 239,364     $ 124,104     $ 84,808     $ 117,590  
 
                              
Ratio of income from continuing operations to combined fixed charges and preferred stock dividends
     1.02:1                       1.30:1       1.48:1  
 
                                  
 
                                        
Deficiency of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends
           $ 16,413     $ 3,061