Exhibit 12.1
CITY OFFICE REIT, INC.
Statement of Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
City Office REIT Inc. | City Office REIT, Inc. Predecessor | |||||||||||||||
Period from April 21, 2014 to December 31, 2014 | Period from January 1, 2014 to April 20, 2014 | Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||
Earnings | ||||||||||||||||
Add: | ||||||||||||||||
Income from continuing operations before adjustment for income or loss from equity investees | $ | (6,854,774 | ) | $ | (2,530,157 | ) | $ | (4,580,206 | ) | $ | (2,387,452 | ) | ||||
Fixed charges (see below) | 7,180,203 | 3,771,792 | 5,368,016 | 3,685,881 | ||||||||||||
Distributed income of equity investees | — | — | 402,913 | 505,877 | ||||||||||||
Subtract: | — | — | — | — | ||||||||||||
Capitalized interest | — | — | — | — | ||||||||||||
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Earnings | 325,429 | 1,241,635 | 1,190,723 | 1,804,305 | ||||||||||||
Fixed Charges | ||||||||||||||||
Interest expense | 7,180,203 | 3,771,792 | 5,368,016 | 3,685,881 | ||||||||||||
Capitalized interest | — | — | — | — | ||||||||||||
Rental expense at computed interest | — | — | — | — | ||||||||||||
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Fixed charges | $ | 7,180,203 | $ | 3,771,792 | $ | 5,368,016 | $ | 3,685,881 | ||||||||
Consolidated ratio of earnings to fixed charges | 0.05 | 0.33 | 0.22 | 0.49 | ||||||||||||
Inadequate amount | $ | 6,854,774 | $ | 2,530,157 | $ | 4,177,293 | $ | 1,881,575 |
(1) | Amounts represent those portions of rent expense that are reasonable approximations of interest costs. |