Exhibit 12.1
Statement of Computation of Ratio of Earnings
Newcastle Investment Corp. Ratio of Earnings to Combined Fixed Charges and Preferred Dividends | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
(Amounts in 000’s, except ratios) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Income (loss) from continuing operations, pre-tax before adjustment for income (loss) from equity investees | $ | 67,791 | $ | 139,725 | $ | 403,645 | $ | 303,641 | $ | 621,670 | ||||||||||
Fixed charges, as defined (A) | 80,022 | 78,601 | 108,236 | 138,035 | 172,219 | |||||||||||||||
Distributed income (loss) of equity investees | — | 1,069 | — | — | — | |||||||||||||||
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Earnings, as defined | $ | 147,813 | $ | 219,395 | $ | 511,881 | $ | 441,676 | $ | 793,889 | ||||||||||
Combined fixed charges and preferred dividends, as defined (B) | 85,602 | 84,181 | 113,816 | 143,615 | 179,672 | |||||||||||||||
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Ratio of Earnings to Combined Fixed Charges | 1.73 | 2.61 | 4.50 | 3.08 | 4.42 | |||||||||||||||
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(A) Fixed charges, as defined: | ||||||||||||||||||||
Interest expense | $ | 80,022 | $ | 78,601 | $ | 108,236 | $ | 138,035 | $ | 172,219 | ||||||||||
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Fixed charges, as defined | $ | 80,022 | $ | 78,601 | $ | 108,236 | $ | 138,035 | $ | 172,219 | ||||||||||
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(B) Combined fixed charges and preferred dividends, as defined: | ||||||||||||||||||||
Interest expense | $ | 80,022 | $ | 78,601 | $ | 108,236 | $ | 138,035 | $ | 172,219 | ||||||||||
Preferred dividends | 5,580 | 5,580 | 5,580 | 5,580 | 7,453 | |||||||||||||||
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Fixed charges, as defined | $ | 85,602 | $ | 84,181 | $ | 113,816 | $ | 143,615 | $ | 179,672 | ||||||||||
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Newcastle Investment Corp. Ratio of Earnings to Fixed Charges | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
(Amounts in 000’s, except ratios) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Income (loss) from continuing operations, pre-tax before adjustment for income (loss) from equity investees | $ | 67,791 | $ | 139,725 | $ | 403,645 | $ | 303,641 | $ | 621,670 | ||||||||||
Fixed charges, as defined (A) | 80,022 | 78,601 | 108,236 | 138,035 | 172,219 | |||||||||||||||
Distributed income (loss) of equity investees | — | 1,069 | — | — | — | |||||||||||||||
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Earnings, as defined | $ | 147,813 | $ | 219,395 | $ | 511,881 | $ | 441,676 | $ | 793,889 | ||||||||||
Fixed charges, as defined (A) | 80,022 | 78,601 | 108,236 | 138,035 | 172,219 | |||||||||||||||
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Ratio of Earnings to Fixed Charges | 1.85 | 2.79 | 4.73 | 3.20 | 4.61 | |||||||||||||||
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(A) Fixed charges, as defined: | ||||||||||||||||||||
Interest expense | $ | 80,022 | $ | 78,601 | $ | 108,236 | $ | 138,035 | $ | 172,219 | ||||||||||
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Fixed charges, as defined | $ | 80,022 | $ | 78,601 | $ | 108,236 | $ | 138,035 | $ | 172,219 | ||||||||||
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