Exhibit 12.1
Trinity Place Holdings Inc.
Statement of Computation of Ratio of Earnings to Fixed Charges
($ in thousands)
| Transition Period from March 1, 2015 to December 31, 2015 | Nine Months Ended September 30, 2016 | |||||||
| Earnings: | ||||||||
| Loss before taxes | $ | (6,494 | ) | $ | (4,753 | ) | ||
| Add: Fixed Charges | 1,825 | 1,867 | ||||||
| Less: Capitalized Interest | (1,201 | ) | (1,438 | ) | ||||
| Less: Capitalized deferred financing costs | (228 | ) | (258 | ) | ||||
| Earnings as defined | (6,098 | ) | (4,582 | ) | ||||
| Fixed Charges: | ||||||||
| Interest expense | 333 | 111 | ||||||
| Capitalized interest | 1,201 | 1,438 | ||||||
| Amortization of deferred financing costs | 63 | 60 | ||||||
| Capitalized deferred financing costs | 228 | 258 | ||||||
| Total fixed charges | 1,825 | 1,867 | ||||||
| Deficiency of earnings to cover fixed charges(1)(2) | $ | (7,923 | ) | $ | (6,449 | ) | ||
(1) For the purpose of this table, "earnings" consists of income (loss) from continuing operations before income taxes, plus fixed charges and amortization of capitalized interest, less interest capitalized. "Fixed charges" consists of interest expensed and capitalized related to indebtedness and amortization of deferred financing costs and capitalized related to indebtedness. We had no earnings for the transition period from March 1, 2015 to December 31, 2015 and for the nine months ended September 30, 2016.
(2) In each of the periods presented, earnings were insufficient to cover fixed charges. The ratio of earnings to fixed charges was less than one-to-one for each of the periods presented. We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have any preferred stock outstanding as of the date of this prospectus.
