Exhibit 12.01
Arlington Asset Investment Corp.
Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(dollars in thousands)
|
| Year Ended December 31, |
| |||||||||||||||||
Ratio of earnings to fixed charges: |
| 2017 |
|
| 2016 |
|
| 2015 |
|
| 2014 |
|
| 2013 |
| |||||
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees |
| $ | 56,460 |
|
| $ | (14,512 | ) |
| $ | (32,403 | ) |
| $ | 55,189 |
|
| $ | 14,253 |
|
Distributed income of equity investees |
|
| 477 |
|
|
| 809 |
|
|
| 1,628 |
|
|
| 413 |
|
|
| 90 |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense and amortization of debt discount and premium on all indebtedness |
|
| 51,514 |
|
|
| 29,222 |
|
|
| 18,889 |
|
|
| 11,391 |
|
|
| 8,529 |
|
Rentals |
|
| 88 |
|
|
| 87 |
|
|
| 92 |
|
|
| 83 |
|
|
| 81 |
|
Total fixed charges |
| $ | 51,602 |
|
| $ | 29,309 |
|
| $ | 18,981 |
|
| $ | 11,474 |
|
| $ | 8,610 |
|
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees plus fixed charges and distributed income of equity investees |
| $ | 108,539 |
|
| $ | 15,606 |
|
| $ | (11,794 | ) |
| $ | 67,076 |
|
| $ | 22,953 |
|
Ratio of earnings to fixed charges |
|
| 2.1 |
|
| (A) |
|
| (A) |
|
|
| 5.8 |
|
|
| 2.7 |
|
|
| Year Ended December 31, |
| |||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends: |
| 2017 |
|
| 2016 |
|
| 2015 |
|
| 2014 |
|
| 2013 |
| |||||
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees |
| $ | 56,460 |
|
| $ | (14,512 | ) |
| $ | (32,403 | ) |
| $ | 55,189 |
|
| $ | 14,253 |
|
Distributed income of equity investees |
|
| 477 |
|
|
| 809 |
|
|
| 1,628 |
|
|
| 413 |
|
|
| 90 |
|
Preferred stock dividends |
|
| 251 |
|
|
| — |
|
|
| — |
|
|
| — |
|
|
| — |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense and amortization of debt discount and premium on all indebtedness |
|
| 51,514 |
|
|
| 29,222 |
|
|
| 18,889 |
|
|
| 11,391 |
|
|
| 8,529 |
|
Rentals |
|
| 88 |
|
|
| 87 |
|
|
| 92 |
|
|
| 83 |
|
|
| 81 |
|
Total fixed charges |
| $ | 51,602 |
|
| $ | 29,309 |
|
| $ | 18,981 |
|
| $ | 11,474 |
|
| $ | 8,610 |
|
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees plus fixed charges, distributed income of equity investees and dividends on preferred stock |
| $ | 108,790 |
|
| $ | 15,606 |
|
| $ | (11,794 | ) |
| $ | 67,076 |
|
| $ | 22,953 |
|
Ratio of earnings to fixed charges |
|
| 2.1 |
|
| (A) |
|
| (A) |
|
|
| 5.8 |
|
|
| 2.7 |
|
(A) | For the years ended December 31, 2016 and 2015, the ratio coverage in the period was less than 1:1. The Company would have had to generate additional earnings of $13,703 and $30,775, respectively, to achieve coverage of 1:1 in those periods. |