Exhibit 12.1
Brookdale Senior Living Inc.
Ratio of Earnings to Fixed Charges and Preferred Dividends
(in thousands)
| Three Months Ended March 31, 2014 | Years Ended December 31 | |||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | (2,935 | ) | $ | (3,312 | ) | $ | (61,460 | ) | $ | (68,702 | ) | $ | (82,116 | ) | $ | (101,290 | ) | ||||||
Plus: | ||||||||||||||||||||||||
Fixed charges | 57,584 | 231,867 | 242,532 | 230,426 | 232,079 | 230,942 | ||||||||||||||||||
Distributions from equity investees | 245 | 4,291 | 1,857 | 1,488 | 872 | 1,466 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Capitalized Interest | (302 | ) | (1,337 | ) | (1,533 | ) | (598 | ) | (264 | ) | (1,960 | ) | ||||||||||||
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Total earnings | $ | 54,592 | $ | 231,509 | $ | 181,396 | $ | 162,614 | $ | 150,571 | $ | 129,158 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense and amortization of debt discount/premium on all indebtedness (excluding losses recognized on early extinguishments of debt) | $ | 34,016 | $ | 138,379 | $ | 146,419 | $ | 138,300 | $ | 141,604 | $ | 138,374 | ||||||||||||
Capitalized interest expense | 302 | 1,337 | 1,533 | 598 | 264 | 1,960 | ||||||||||||||||||
Amount of pre-tax earnings required to cover any preferred stock dividend requirements | — | — | — | — | — | — | ||||||||||||||||||
Interest factor portion of rental expense | 23,266 | 92,151 | 94,580 | 91,528 | 90,211 | 90,608 | ||||||||||||||||||
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Total fixed charges | $ | 57,584 | $ | 231,867 | $ | 242,532 | $ | 230,426 | $ | 232,079 | $ | 230,942 | ||||||||||||
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Ratio of earnings to fixed charges | 0.9 | 1.0 | 0.7 | 0.7 | 0.6 | 0.6 | ||||||||||||||||||
Coverage deficiencies | $ | 2,992 | $ | 358 | $ | 61,136 | $ | 67,812 | $ | 81,508 | $ | 101,784 | ||||||||||||
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