CoreSite Realty Corporation
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands except ratios)
|
| Six Months |
| Year Ended December 31, |
| ||||||||||||||
|
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
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Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
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Net income |
| $ | 49,195 |
| $ | 81,921 |
| $ | 56,859 |
| $ | 40,052 |
| $ | 31,612 |
| $ | 10,716 |
|
Add: Fixed charges |
| 14,941 |
| 21,484 |
| 15,184 |
| 14,639 |
| 12,016 |
| 10,792 |
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Add: Amortization of capitalized interest |
| 1,106 |
| 1,936 |
| 1,545 |
| 1,128 |
| 679 |
| 369 |
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Less: Capitalized interest |
| (1,393 | ) | (4,121 | ) | (3,698 | ) | (4,633 | ) | (4,362 | ) | (1,837 | ) | ||||||
Total earnings |
| $ | 63,849 |
| $ | 101,220 |
| $ | 69,890 |
| $ | 51,186 |
| $ | 39,945 |
| $ | 20,040 |
|
Fixed charges: |
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Interest expense (including amortization of deferred financing costs) |
| $ | 11,065 |
| $ | 12,612 |
| $ | 7,104 |
| $ | 5,311 |
| $ | 2,689 |
| $ | 5,236 |
|
Capitalized interest |
| 1,393 |
| 4,121 |
| 3,698 |
| 4,633 |
| 4,362 |
| 1,837 |
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Interest within rental expense |
| 2,483 |
| 4,751 |
| 4,382 |
| 4,695 |
| 4,965 |
| 3,719 |
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Total fixed charges |
| $ | 14,941 |
| $ | 21,484 |
| $ | 15,184 |
| $ | 14,639 |
| $ | 12,016 |
| $ | 10,792 |
|
Ratio of earnings to fixed charges |
| 4.27 |
| 4.71 |
| 4.60 |
| 3.50 |
| 3.32 |
| 1.86 |
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