Exhibit 12.1
Apple Hospitality REIT, Inc. | ||||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||
($'s in thousands) | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Pre-tax income from continuing operations | $ | 118,186 | $ | 8,802 | $ | 83,338 | $ | 69,850 | $ | 51,222 | ||||||||||
Fixed charges | 40,923 | 31,839 | 9,748 | 8,103 | 6,540 | |||||||||||||||
Amortization of capitalized interest | 559 | 367 | 254 | 190 | 122 | |||||||||||||||
Capitalized interest | (1,548 | ) | (1,927 | ) | (679 | ) | (663 | ) | (538 | ) | ||||||||||
Earnings | $ | 158,120 | $ | 39,081 | $ | 92,661 | $ | 77,480 | $ | 57,346 | ||||||||||
Fixed Charges | ||||||||||||||||||||
Interest expense | $ | 32,943 | $ | 24,576 | $ | 9,017 | $ | 7,388 | $ | 5,980 | ||||||||||
Capitalized interest | 1,548 | 1,927 | 679 | 663 | 538 | |||||||||||||||
Estimated interest component of rental expense | 6,432 | 5,336 | 52 | 52 | 22 | |||||||||||||||
Fixed charges | $ | 40,923 | $ | 31,839 | $ | 9,748 | $ | 8,103 | $ | 6,540 | ||||||||||
Ratio of Earnings to Fixed Charges | 3.86 | 1.23 | 9.51 | 9.56 | 8.77 |