Ventas (VTR) 8-K Other events

EXHIBIT 12—STATEMENT RE:    COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Period from May 1, 1998 to December 31,
	1998		1999		2000			2001		2002
Income (loss) before gain on disposal of real estate assets, discontinued operations, provision for income taxes and extraordinary loss	$	44,503	$	38,952	$	(68,721	)	$	50,361	$	36,763
Interest Expense
Notes payable and other debt		56,058		83,721		89,910			82,400		73,029
United States Settlement		—		—		—			4,592		5,461
Earnings	$	100,561	$	122,673	$	21,189		$	137,353	$	115,253
Interest Expense
Notes payable and other debt		56,058		83,721		89,910			82,400		73,029
United States Settlement		—		—		—			4,592		5,461
Fixed Charges	$	56,058	$	83,721	$	89,910		$	86,992	$	78,490
Ratio of Earnings to Fixed Charges and preferred stock dividends (a)		1.79		1.47		0.24			1.58		1.47

(a) Earnings were insufficient to cover fixed charges by $68.7 million in 2000. Earnings in 2000 were reduced by $96.5 million for the United States Settlement.