EXHIBIT 12
ANWORTH MORTGAGE ASSET CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(in thousands, except ratios)
(unaudited)
Computation of ratio of earnings to combined fixed charges and Preferred Stock dividends:
| Nine Months Ended September 30, 2005 | Year Ended December 31, | |||||||||||||||||
| 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||
Fixed charges(1) | $ | 171,943 | $ | 97,949 | $ | 45,661 | $ | 29,576 | $ | 6,363 | $ | 8,674 | ||||||
Preferred Stock dividends | 2,890 | 369 | — | — | — | — | ||||||||||||
Combined fixed charges and Preferred Stock dividends | $ | 174,833 | $ | 98,318 | $ | 45,661 | $ | 29,576 | $ | 6,363 | $ | 8,674 | ||||||
Fixed charges | $ | 174,833 | $ | 98,318 | $ | 45,661 | $ | 29,576 | $ | 6,363 | $ | 8,674 | ||||||
Net income | 27,849 | 55,805 | 50,195 | 31,670 | 3,706 | 1,261 | ||||||||||||
| $ | 202,682 | $ | 154,123 | $ | 95,856 | $ | 61,246 | $ | 10,069 | $ | 9,935 | |||||||
Ratio of earnings to combined fixed charges and Preferred Stock dividends | 1.16 | 1.57 | 2.10 | 2.07 | 1.58 | 1.15 | ||||||||||||
| (1) | Fixed charges consist of interest expense on all indebtedness. |
