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Content analysis
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H.S. sophomore Avg
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Exhibit 12.2
SOTHERLY HOTELS LP
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED UNIT DISTRIBUTIONS
| For the year ended December 31, |
| |||||||||||||
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| |||||
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax income (loss) from continuing operations | $ | 1,767,293 |
| $ | (467,485 | ) | $ | 5,061,620 |
| $ | (2,466,232 | ) | $ | (2,977,496 | ) |
Subtract: Income from equity investees |
| - |
|
| - |
|
| (475,514 | ) |
| (307,370 | ) |
| (449,500 | ) |
Add: Fixed charges |
| 14,975,899 |
|
| 16,611,925 |
|
| 16,515,827 |
|
| 14,636,870 |
|
| 9,606,479 |
|
Add: Amortization of capitalized interest |
| 77,799 |
|
| 77,799 |
|
| 77,799 |
|
| 77,799 |
|
| 77,799 |
|
Add: Distributed income of equity investees |
| - |
|
| - |
|
| 600,000 |
|
| 750,000 |
|
| 1,000,000 |
|
Total Earnings | $ | 16,820,991 |
| $ | 16,222,239 |
| $ | 21,779,732 |
| $ | 12,691,067 |
| $ | 7,257,282 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges and Preferred Unit Distributions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual Interest expensed | $ | 14,975,899 |
| $ | 16,611,925 |
| $ | 15,234,615 |
| $ | 13,208,196 |
| $ | 8,087,923 |
|
Amortized premiums, discounts and capitalized expenses related to indebtedness |
| 751,729 |
|
| 1,123,182 |
|
| 1,281,212 |
|
| 1,428,674 |
|
| 1,518,556 |
|
Total Fixed Charges |
| 15,727,628 |
|
| 17,735,107 |
|
| 16,515,827 |
|
| 14,636,870 |
|
| 9,606,479 |
|
Preferred unit distributions |
| 3,781,639 |
|
| 1,144,889 |
|
| - |
|
| - |
|
| - |
|
Total Fixed Charges and Preferred Unit Distributions | $ | 19,509,267 |
| $ | 18,879,996 |
| $ | 16,515,827 |
| $ | 14,636,870 |
| $ | 9,606,479 |
|
Ratio of Earnings to Fixed Charges |
| 1.07 |
|
| 0.91 |
|
| 1.32 |
|
| 0.87 |
|
| 0.76 |
|
Deficiency | N/A |
| $ | 1,512,868 |
| N/A |
| $ | 1,945,803 |
| $ | 2,349,197 |
| ||
Ratio of Earnings to Combined Fixed Charges and Preferred Unit Distributions |
| 0.86 |
|
| 0.86 |
|
| 1.32 |
|
| 0.87 |
|
| 0.76 |
|
Deficiency | $ | 2,688,276 |
| $ | 2,657,757 |
| N/A |
| $ | 1,945,803 |
| $ | 2,349,197 |
|