SABRA HEALTH CARE REIT, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
|
| | | | | | | | | | | | | | | | | |
| | | Three Months Ended June 30, | | Six Months Ended June 30, |
| | | 2013 | | 2012 | | 2013 | | 2012 |
| | | | | | | | | |
Earnings | | | | | | | | |
| Pre-tax net (loss) income | | $ | (662 | ) | | $ | 5,923 |
| | $ | 6,068 |
| | $ | 10,328 |
|
| Add: | | | | | | | | |
| Fixed charges | | 10,151 |
| | 7,905 |
| | 20,160 |
| | 15,610 |
|
Earnings, as adjusted | | $ | 9,489 |
| | $ | 13,828 |
| | $ | 29,055 |
| | $ | 25,938 |
|
| | | | | | | | | |
Fixed charges | | | | | | | | |
| Interest expensed and capitalized | | $ | 9,522 |
| | $ | 7,271 |
| | $ | 18,957 |
| | $ | 14,407 |
|
| Amortized premiums, discounts and capitalized expenses related to indebtedness | | 621 |
| | 627 |
| | 1,188 |
| | 1,189 |
|
| Estimate of interest within rental expense | | 8 |
| | 7 |
| | 15 |
| | 14 |
|
Fixed charges, as adjusted | | 10,151 |
| | 7,905 |
| | 20,160 |
| | 15,610 |
|
Preferred stock dividends (1) | | 2,523 |
| | — |
| | 2,827 |
| | — |
|
Combined fixed charges and preferred stock dividends | | $ | 12,674 |
| | $ | 7,905 |
| | $ | 22,987 |
| | $ | 15,610 |
|
| | | | | | | | | |
Ratio of earnings to combined fixed charges and preferred stock dividends | | 0.75 | x | | 1.75 | x | | 1.26 | x | | 1.66 | x |
(1) The Company did not have any preferred stock outstanding for the three and six months ended June 30, 2012.