EXHIBIT 12.0
ASHFORD HOSPITALITY TRUST, INC.
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
(dollars in thousands)
| Year Ended December 31, | |||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||
| Earnings | |||||||||||||||||||
| Income (loss) from continuing operations before provision for income taxes and redeemable noncontrolling interests | $ | (47,047 | ) | $ | (56,183 | ) | $ | 9,383 | $ | (26,280 | ) | $ | (182,933 | ) | |||||
| Amount recorded for (income) loss in unconsolidated joint venture | 23,404 | 20,833 | (14,528 | ) | 20,265 | (2,486 | ) | ||||||||||||
| Add: | |||||||||||||||||||
| Distributions from equity investment in joint venture | — | — | — | 492 | 873 | ||||||||||||||
| Interest on indebtedness | 133,697 | 140,066 | 134,585 | 143,264 | 139,390 | ||||||||||||||
| Amortization of debt expense and premium | 7,772 | 6,194 | 4,648 | 5,838 | 7,700 | ||||||||||||||
| Interest component of operating leases | 341 | 354 | 385 | 525 | 598 | ||||||||||||||
| $ | 118,167 | $ | 111,264 | $ | 134,473 | $ | 144,104 | $ | (36,858 | ) | |||||||||
| Fixed charges | |||||||||||||||||||
| Interest on indebtedness | $ | 133,697 | $ | 140,066 | $ | 134,585 | $ | 143,264 | $ | 139,390 | |||||||||
| Amortization of debt expense and premium | 7,772 | 6,194 | 4,648 | 5,838 | 7,700 | ||||||||||||||
| Interest component of operating leases | 341 | 354 | 385 | 525 | 598 | ||||||||||||||
| Dividends to Class B unit holders | 2,943 | 2,943 | 2,943 | 2,943 | 2,827 | ||||||||||||||
| $ | 144,753 | $ | 149,557 | $ | 142,561 | $ | 152,570 | $ | 150,515 | ||||||||||
| Preferred stock dividends | |||||||||||||||||||
| Preferred Series A | $ | 3,542 | $ | 3,516 | $ | 3,180 | $ | 3,180 | $ | 3,180 | |||||||||
| Preferred Series B-1 | — | — | 1,374 | 4,143 | 4,171 | ||||||||||||||
| Preferred Series D | 20,002 | 19,869 | 18,940 | 13,871 | 11,971 | ||||||||||||||
| Preferred Series E | 10,418 | 10,417 | 6,019 | — | — | ||||||||||||||
| $ | 33,962 | $ | 33,802 | $ | 29,513 | $ | 21,194 | $ | 19,322 | ||||||||||
| Combined fixed charges and preferred stock dividends | $ | 178,715 | $ | 183,359 | $ | 172,074 | $ | 173,764 | $ | 169,837 | |||||||||
| Deficit (Fixed charges) | $ | 26,586 | $ | 38,293 | $ | 8,088 | $ | 8,466 | $ | 187,373 | |||||||||
| Deficit (Combined fixed charges and preferred stock dividends) | $ | 60,548 | $ | 72,095 | $ | 37,601 | $ | 29,660 | $ | 206,695 | |||||||||