City Office REIT (CIO) 10-Q 2018 Q2 Quarterly report

Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends

(In thousands)

	City Office REIT, Inc.												City Office REIT, Inc. Predecessor
	Six months ended June 30, 2018		Year ended December 31, 2017		Year ended December 31, 2016		Year ended December 31, 2015			Period from April 21, 2014 to December 31, 2014			Period from January 1, 2014 to April 20, 2014
Earnings
Add:
Income/(Loss) from continuing operations before adjustment for income or loss from equity investees		46,513		9,158		376		(7,667	)		(6,855	)		(2,530	)
Fixed charges		11,255		20,173		14,761		11,353			7,180			3,772
Distributed income of equity investees		—		—		—		—			—			—
Subtract:
Capitalized interest		—		—		—		—			—			—
Total Earnings		57,768		29,331		15,137		3,686			325			1,242
Fixed Charges
Interest expense		11,255		20,173		14,761		11,353			7,180			3,772
Capitalized interest
Rental expense at computed interest factor(1)		—		—		—		—			—			—
Total Fixed charges		11,255		20,173		14,761		11,353			7,180			3,772
Preferred Stock Dividends		3,710		7,411		1,781		—			—			—
Consolidated Fixed Charges and Preferred Stock Dividends		14,965		27,584		16,542		11,353			7,180			3,772
Consolidated ratio of earnings to fixed charges		3.86		1.06		0.92		0.32			0.05			0.33
Inadequate amount		—		—		1,405		7,667			6,855			2,530

(1) Amounts represent those portions of rent expense that are reasonable approximations of interest costs.