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FIVE STAR QUALITY CARE, INC.
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
| Year ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
Consolidated earnings | $ | 140,959 | $ | 193,007 | $ | 192,977 | $ | 177,884 | $ | 137,703 | ||||||
Consolidated fixed charges | 122,205 | 176,212 | 166,062 | 134,039 | 127,451 | |||||||||||
Ratio of consolidated earnings to fixed charges | 1.2x | 1.1x | 1.2x | 1.3x | 1.1x | |||||||||||
Calculation of consolidated earnings: | ||||||||||||||||
Income from continuing operations before income tax | $ | 19,070 | $ | 16,934 | $ | 26,914 | $ | 43,711 | $ | 10,252 | ||||||
Equity in (earnings) losses of Affiliates Insurance Company | (316 | ) | (139 | ) | 1 | 134 | — | |||||||||
Fixed charges | 122,205 | 176,212 | 166,062 | 134,039 | 127,451 | |||||||||||
Consolidated earnings | $ | 140,959 | $ | 193,007 | $ | 192,977 | $ | 177,884 | $ | 137,703 | ||||||
Calculation of consolidated fixed charges: | ||||||||||||||||
Interest expense | $ | 6,390 | $ | 4,171 | $ | 2,945 | $ | 4,235 | $ | 6,070 | ||||||
Amortization of debt discounts / premium | 206 | 83 | — | — | 34 | |||||||||||
Amortization of deferred finance costs | 107 | 123 | 100 | 130 | 233 | |||||||||||
Estimated interest component of rent expense | 115,502 | 171,835 | 163,017 | 129,674 | 121,114 | |||||||||||
Fixed charges | $ | 122,205 | $ | 176,212 | $ | 166,062 | $ | 134,039 | $ | 127,451 | ||||||
FIVE STAR QUALITY CARE, INC. Computation of Ratio of Earnings to Fixed Charges (in thousands except ratios)