EXHIBIT 12
ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
Six Months Ended | Year Ended December 31, | ||||||||||||||||||||||
June 30, 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Earnings | |||||||||||||||||||||||
Income (loss) from continuing operations before provision for income taxes and noncontrolling interests | $ | 3,679 | $ | (4,428 | ) | $ | 4,635 | $ | (15,585 | ) | $ | 591 | $ | 2,273 | |||||||||
Amount recorded for equity in loss of unconsolidated entity | 2,587 | 2,927 | — | — | — | — | |||||||||||||||||
Add: | |||||||||||||||||||||||
Interest on indebtedness | 19,632 | 35,254 | 37,203 | 32,266 | 29,991 | 30,525 | |||||||||||||||||
Amortization of loan costs | 1,639 | 2,575 | 1,828 | 745 | 1,253 | 1,278 | |||||||||||||||||
Interest component of operating leases | 212 | 353 | 264 | 227 | 220 | 182 | |||||||||||||||||
$ | 27,749 | $ | 36,681 | $ | 43,930 | $ | 17,653 | $ | 32,055 | $ | 34,258 | ||||||||||||
Fixed charges | |||||||||||||||||||||||
Interest on indebtedness | $ | 19,632 | $ | 35,254 | $ | 37,203 | $ | 32,266 | $ | 29,991 | $ | 30,525 | |||||||||||
Amortization of loan costs | 1,639 | 2,575 | 1,828 | 745 | 1,253 | 1,278 | |||||||||||||||||
Interest component of operating leases | 212 | 353 | 264 | 227 | 220 | 182 | |||||||||||||||||
$ | 21,483 | $ | 38,182 | $ | 39,295 | $ | 33,238 | $ | 31,464 | $ | 31,985 | ||||||||||||
Preferred stock dividends | |||||||||||||||||||||||
Series A Preferred Stock | $ | — | $ | 1,867 | $ | — | $ | — | $ | — | $ | — | |||||||||||
Series B Preferred Stock | 1,872 | 119 | — | — | — | — | |||||||||||||||||
$ | 1,872 | $ | 1,986 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Combined fixed charges and preferred stock dividends | $ | 23,355 | $ | 40,168 | $ | 39,295 | $ | 33,238 | $ | 31,464 | $ | 31,985 | |||||||||||
Ratio of earnings to fixed charges | 1.29 | 1.12 | 1.02 | 1.07 | |||||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.19 | 1.12 | 1.02 | 1.07 | |||||||||||||||||||
Deficit (Fixed charges) | $ | 1,501 | $ | 15,585 | |||||||||||||||||||
Deficit (Combined fixed charges and preferred stock dividends) | $ | 3,487 | $ | 15,585 |