| Statement of Computation of Ratio of Earnings | ||||||||||||||||||||||||
| Drive Shack Inc. | ||||||||||||||||||||||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Dividends | ||||||||||||||||||||||||
(Amounts in 000's, except ratios) | Nine Months Ended | Years Ended December 31, | ||||||||||||||||||||||
| September 30, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
| Pre-tax income (loss) from continuing operations before adjustment for income (loss) from equity investees | $ | (17,082 | ) | $ | 77,525 | $ | 21,253 | $ | 67,791 | $ | 139,725 | $ | 403,645 | |||||||||||
| Fixed charges, as defined (A) | 15,335 | 52,868 | 62,129 | 80,022 | 78,601 | 108,236 | ||||||||||||||||||
| Distributed income (loss) of equity investees | - | - | - | - | 1,069 | - | ||||||||||||||||||
| Earnings, as defined | $ | (1,747 | ) | $ | 130,393 | $ | 83,382 | $ | 147,813 | $ | 219,395 | $ | 511,881 | |||||||||||
| Combined fixed charges and preferred dividends, as defined (B) | 19,520 | 58,448 | 67,709 | 85,602 | 84,181 | 113,816 | ||||||||||||||||||
| Ratio of Earnings to Combined Fixed Charges | (C) | 2.23 | 1.23 | 1.73 | 2.61 | 4.50 | ||||||||||||||||||
| Drive Shack Inc. | ||||||||||||||||||||||||
| Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
| Nine Months Ended | Years Ended December 31, | |||||||||||||||||||||||
(Amounts in 000's, except ratios) | September 30, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
| Pre-tax income (loss) from continuing operations before adjustment for income (loss) from equity investees | $ | (17,082 | ) | $ | 77,525 | $ | 21,253 | $ | 67,791 | $ | 139,725 | $ | 403,645 | |||||||||||
| Fixed charges, as defined (A) | 15,335 | 52,868 | 62,129 | 80,022 | 78,601 | 108,236 | ||||||||||||||||||
| Distributed income (loss) of equity investees | - | - | - | - | 1,069 | - | ||||||||||||||||||
| Earnings, as defined | $ | (1,747 | ) | $ | 130,393 | $ | 83,382 | $ | 147,813 | $ | 219,395 | $ | 511,881 | |||||||||||
| Fixed charges, as defined (A) | 15,335 | 52,868 | 62,129 | 80,022 | 78,601 | 108,236 | ||||||||||||||||||
| Ratio of Earnings to Fixed Charges | (D) | 2.47 | 1.34 | 1.85 | 2.79 | 4.73 | ||||||||||||||||||
| (A) Fixed charges, as defined: | ||||||||||||||||||||||||
| Interest expense | $ | 15,335 | $ | 52,868 | $ | 62,129 | $ | 80,022 | $ | 78,601 | $ | 108,236 | ||||||||||||
| Fixed charges, as defined | $ | 15,335 | $ | 52,868 | $ | 62,129 | $ | 80,022 | $ | 78,601 | $ | 108,236 | ||||||||||||
| (B) Combined fixed charges and | ||||||||||||||||||||||||
| preferred dividends, as defined: | ||||||||||||||||||||||||
| Interest expense | $ | 15,335 | $ | 52,868 | $ | 62,129 | $ | 80,022 | $ | 78,601 | $ | 108,236 | ||||||||||||
| Preferred dividends | 4,185 | 5,580 | 5,580 | 5,580 | 5,580 | 5,580 | ||||||||||||||||||
| Combined fixed charges as defined | $ | 19,520 | $ | 58,448 | $ | 67,709 | $ | 85,602 | $ | 84,181 | $ | 113,816 | ||||||||||||
| (C) Earnings for the nine months ended September 30, 2017 were inadequate to cover fixed charges by $21,267. |
| (D) Earnings for the nine months ended September 30, 2017 were inadequate to cover fixed charges by $17,082. |
