REXFORD INDUSTRIAL REALTY, INC.
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Rexford Industrial Realty, Inc. | | Rexford Industrial Realty, Inc. Predecessor |
| | | Year ended December 31, 2015 | | Year ended December 31, 2014 | | Period from July 24, 2013 to December 31, 2013 | | Period from January 1, 2013 to July 23, 2013 | | Year ended December 31, 2012 | | Year ended December 31, 2011 |
| Earnings | | | | | | | | | | | | |
| Add: | | | | | | | | | | | | |
| Gain (loss) from continuing operations before adjustment for income or loss from equity investees | | $ | 1,857 |
| | $ | (1,141 | ) | | $ | (1,102 | ) | | $ | (7,279 | ) | | $ | (8,436 | ) | | $ | (7,619 | ) |
| Fixed charges (see below) | | 9,361 |
| | 6,534 |
| | 1,791 |
| | 9,415 |
| | 16,950 |
| | 17,535 |
|
| Distributed income of equity investees | | — |
| | 1,689 |
| | — |
| | — |
| | — |
| | — |
|
| Subtract: | | | | | | | | | | | | |
| Capitalized interest | | (754 | ) | | (42 | ) | | — |
| | — |
| | — |
| | — |
|
| Earnings | | $ | 10,464 |
| | $ | 7,040 |
| | $ | 689 |
| | $ | 2,136 |
| | $ | 8,514 |
| | $ | 9,916 |
|
| | | | | | | | | | | | | |
| Fixed Charges | | | | | | | | | | | | |
| Interest expense | | 8,453 |
| | 6,400 |
| | 1,763 |
| | 9,395 |
| | 16,875 |
| | 17,466 |
|
| Capitalized interest | | 754 |
| | 42 |
| | — |
| | — |
| | — |
| | — |
|
Rental expense at computed interest factor(1) | | 154 |
| | 92 |
| | 28 |
| | 20 |
| | 75 |
| | 69 |
|
| Fixed charges | | $ | 9,361 |
| | $ | 6,534 |
| | $ | 1,791 |
| | $ | 9,415 |
| | $ | 16,950 |
| | $ | 17,535 |
|
| | | | | | | | | | | | | |
| Consolidated ratio of earnings (loss) to fixed charges | | 1.12 |
| | 1.08 |
| | 0.38 |
| | 0.23 |
| | 0.50 |
| | 0.57 |
|
| Inadequate amount | | $ | — |
| | $ | — |
| | $ | (1,102 | ) | | $ | (7,279 | ) | | $ | (8,436 | ) | | $ | (7,619 | ) |
| |
| (1) | Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs. |
