Exhibit 12.1 | ||||||||||||||||||||||||
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS | ||||||||||||||||||||||||
Nine months ended | Year ended | Year ended | Year ended | Year ended | Year ended | |||||||||||||||||||
September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pretax income from continuing operations | $ | 49,507,580 | $ | 79,045,303 | $ | 49,752,614 | $ | 25,167,380 | $ | 6,336,588 | $ | (3,314,694 | ) | |||||||||||
Fixed charges | 34,082,367 | 42,809,788 | 30,450,471 | 36,486,361 | 45,450,398 | 79,640,808 | ||||||||||||||||||
Total earnings before fixed charges and preferred shares | $ | 83,589,947 | $ | 121,855,091 | $ | 80,203,085 | $ | 61,653,741 | $ | 51,786,986 | $ | 76,326,114 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest (expensed and capitalized) | $ | 30,460,486 | $ | 38,027,275 | $ | 27,043,926 | $ | 31,876,054 | $ | 41,369,137 | $ | 76,490,096 | ||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 3,600,647 | 4,765,109 | 3,387,123 | 4,590,397 | 4,058,255 | 3,128,657 | ||||||||||||||||||
Estimate of interest within rental expenses | 21,235 | 17,404 | 19,422 | 19,910 | 23,006 | 22,055 | ||||||||||||||||||
Total fixed charges | $ | 3,621,882 | $ | 42,809,788 | $ | 30,450,471 | $ | 36,486,361 | $ | 45,450,398 | $ | 79,640,808 | ||||||||||||
Preferred stock dividend | $ | 5,107,422 | $ | 1,243,971 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Ratio of earnings to combined fixed charges (1) | 23.08 | 2.85 | 2.63 | 1.69 | 1.14 | 0.96 | ||||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends (1) | 9.58 | 2.77 | 2.63 | 1.69 | 1.14 | 0.96 | ||||||||||||||||||
(1) The Company did not have any shares of preferred stock outstanding until June 2012 and paid its first preferred stock dividend in July 2012. |
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10-Q Filing
ACRES Commercial Realty (ACR) 10-Q2013 Q3 Quarterly report
Filed: 12 Nov 13, 12:00am