EX-12 3 d66656exv12.htm EX-12 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  
    2008     2007     2006     2005     2004  
 
Fixed charges
   $ 258,453     $ 275,648     $ 235,521     $ 106,909     $ 44,939  
Preferred stock dividends
     20,251       20,256       20,256       20,256       20,259  
 
                              
Combined fixed charges and preferred stock dividends
   $ 278,704     $ 295,904     $ 255,777     $ 127,165     $ 65,198  
 
                              
Fixed charges
   $ 258,453     $ 275,648     $ 235,521     $ 106,909     $ 44,939  
Income from continuing operations
     125,923       24,713       3,843       17,195       39,869  
 
                              
 
   $ 384,376     $ 300,361     $ 239,364     $ 124,104     $ 84,808  
 
                              
Ratio of income from continuing operations to combined fixed charges and preferred stock dividends
     1.38:1       1.02:1                       1.30:1  
 
                                  
Deficiency of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends
                   $ 16,413     $ 3,061