Exhibit 12.1
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 September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
Earnings | ||||||||||||||||
Pre-tax net income | $ | 25,312 | $ | 18,034 | $ | 47,035 | $ | 54,299 | ||||||||
Add: | ||||||||||||||||
Fixed charges | 15,809 | 15,184 | 49,184 | 43,133 | ||||||||||||
Noncontrolling interest | 25 | 27 | 66 | 47 | ||||||||||||
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Earnings, as adjusted | $ | 41,146 | $ | 33,245 | $ | 96,285 | $ | 97,479 | ||||||||
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Fixed charges | ||||||||||||||||
Interest expensed and capitalized | $ | 14,494 | $ | 13,850 | $ | 45,291 | $ | 39,202 | ||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 1,300 | 1,326 | 3,848 | 3,906 | ||||||||||||
Estimate of interest within rental expense | 15 | 8 | 45 | 25 | ||||||||||||
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Fixed charges, as adjusted | 15,809 | 15,184 | 49,184 | 43,133 | ||||||||||||
Preferred stock dividends | 2,561 | 2,561 | 7,682 | 7,682 | ||||||||||||
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Combined fixed charges and preferred stock dividends | $ | 18,370 | $ | 17,745 | $ | 56,866 | $ | 50,815 | ||||||||
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Ratio of earnings to fixed charges | 2.60x | 2.19x | 1.96x | 2.26x | ||||||||||||
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Ratio of earnings to combined fixed charges and preferred stock dividends | 2.24x | 1.87x | 1.69x | 1.92x | ||||||||||||
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