Arbor Realty Trust (ABR) 8-K Entry into a Material Definitive Agreement

EXHIBIT 12.1

ARBOR REALTY TRUST, INC. AND SUBSIDIARIES

Statement of Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

	Nine Months Ended			Years Ended December 31,
	September 30, 2016			2015			2014			2013		2012		2011
Earnings:
Net income (loss) from continuing operations, pretax	$	31,876,238		$	53,428,814		$	93,048,490		$	21,298,737	$	15,586,859	$	(37,279,758	)
Add (Subtract):
(Income) loss from Equity Affiliates	(11,193,918		)	(12,300,516		)	(248,658		)	204,475		697,856		(3,671,386		)
Distributions from Equity Affiliates	3,415,246			5,622,944			9,256,730			176,777		428,471		4,633,707
Fixed charges	43,276,736			50,624,510			49,238,543			43,544,166		42,372,781		52,716,944
Net income attributable to non-controlling interest	(3,649,432		)	—			—					—		—
Income before fixed charges	$	63,724,870		$	97,375,752		$	151,295,105		$	65,224,155	$	59,085,967	$	16,399,507
Fixed charges:
Interest expense	$	43,276,736		$	50,624,510		$	49,238,543		$	43,544,166	$	42,372,781	$	52,716,944
Total fixed charges	$	43,276,736		$	50,624,510		$	49,238,543		$	43,544,166	$	42,372,781	$	52,716,944
Ratio of earnings to fixed charges	1.5			1.9			3.1			1.5		1.4		—
Deficiency	$	—		$	—		$	—		$	—	$	—	$	36,317,437