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S-3ASR Filing
Empire State Realty Trust (ESRT) S-3ASRAutomatic shelf registration
Filed: 3 Aug 17, 12:00am
Exhibit 12.2
Ratio of Earnings to Fixed Charges
(Unaudited)
The Company | The Predecessor | |||||||||||||||||||||||||||
Six Months Ended June 30, 2017 |
Years Ended December 31, | October 7, through December 31, 2013 | January 1, through October 6, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||
Empire State Realty Trust, Inc. | 2016 | 2015 | 2014 | |||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss ) from continuing operations | $ | 52,592 | $ | 113,396 | $ | 83,877 | $ | 74,865 | $ | 192,306 | $ | (37,232 | ) | $ | 48,643 | |||||||||||||
Interest and debt expense | 35,769 | 72,247 | 68,592 | 67,556 | 13,406 | 51,501 | 55,494 | |||||||||||||||||||||
Preferred unit distributions | (468 | ) | (936 | ) | (936 | ) | (476 | ) | — | — | — | |||||||||||||||||
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Earnings - Numerator | $ | 87,893 | $ | 184,707 | $ | 151,533 | $ | 141,945 | $ | 205,712 | $ | 14,269 | $ | 104,137 | ||||||||||||||
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Interest and debt expense | $ | 35,769 | $ | 72,247 | $ | 68,592 | $ | 67,556 | $ | 13,406 | $ | 51,501 | $ | 55,494 | ||||||||||||||
Preferred unit distributions | 468 | 936 | 936 | 476 | — | — | — | |||||||||||||||||||||
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Fixed charges - Denominator | $ | 36,237 | $ | 73,183 | $ | 69,528 | $ | 68,032 | $ | 13,406 | $ | 51,501 | $ | 55,494 | ||||||||||||||
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Ratio of earnings to fixed charges | 2.43 | 2.52 | 2.18 | 2.09 | 15.34 | * | 1.88 | |||||||||||||||||||||
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* | Earnings (as defined below) were insufficient to cover fixed charges by $37,232,000 for the period ended January 1, 2013 through October 6, 2013. |
Earnings have been calculated by adding fixed charges to income from continuing operations before adjustment for equity in net income of non-controlled entities plus distributions from non-controlled entities. Fixed charges consist of interest and debt expense. For Empire State Realty Trust, Inc., for all periods, we computed the ratio of earnings to fixed charges by dividing earnings by fixed charges and preferred unit distributions. For Empire State Realty OP, L.P., for all periods, we computed the ratio of earnings to fixed charges by dividing earnings by fixed charges.