CAMPUS CREST COMMUNITIES, INC.
The Company | Predecessor | |||||||||||||||||||||||||||
Summary of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | Three Months Ended March 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | Period October 19, 2010 through December 31, 2010 | Period January 1, 2010 through October 18, 2010 | Year Ended December 31, 2009 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before taxes, noncontrolling interests and equity in earnings/losses of unconsolidated subsidiaries | $ | 539 | $ | 7,619 | $ | 10,128 | $ | 5,336 | $ | (799 | ) | $ | (17,862 | ) | $ | (13,513 | ) | |||||||||||
Add: Fixed charges | 8,297 | 22,424 | 18,044 | 8,838 | 2,324 | 19,464 | 14,113 | |||||||||||||||||||||
Add: Distributions of earnings from unconsolidated entities | - | 17 | 766 | - | - | - | - | |||||||||||||||||||||
Add: Amortization of capitalized interest | 48 | 191 | 113 | 53 | 1 | 113 | 137 | |||||||||||||||||||||
Less: Capitalized interest | (1,871 | ) | (3,272 | ) | (2,385 | ) | (1,950 | ) | (175 | ) | (85 | ) | (381 | ) | ||||||||||||||
Total earnings | $ | 7,013 | $ | 26,979 | $ | 26,666 | $ | 12,277 | $ | 1,351 | $ | 1,630 | $ | 356 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense (excluding amortization of deferred financing costs) | $ | 2,859 | $ | 11,135 | $ | 8,707 | $ | 5,550 | $ | 554 | $ | 18,531 | $ | 12,904 | ||||||||||||||
Amortization of deferred financing costs | 517 | 1,834 | 2,838 | 1,338 | 1,595 | 848 | 828 | |||||||||||||||||||||
Capitalized interest | 1,871 | 3,272 | 2,385 | 1,950 | 175 | 85 | 381 | |||||||||||||||||||||
Dividends on preferred stock | 3,050 | 6,183 | 4,114 | - | - | - | - | |||||||||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 8,297 | $ | 22,424 | $ | 18,044 | $ | 8,838 | $ | 2,324 | $ | 19,464 | $ | 14,113 | ||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 0.85 | 1.20 | 1.48 | 1.39 | 0.58 | 0.08 | 0.03 |