Ventas (VTR) 8-K Other Events

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

	For the year ended December 31,
(dollars in thousands)	2008		2007		2006		2005		2004
Income before net loss on real estate disposals, reversal of contingent liability, income taxes, discontinued operations, noncontrolling interest and preferred stock dividends and issuance costs	$	141,566	$	112,851	$	120,015	$	116,532	$	90,811
Interest expense
Senior notes payable and other debt		206,790		199,056		129,214		93,676		57,122
Earnings	$	348,356	$	311,907	$	249,229	$	210,208	$	147,933
Interest
Senior notes payable and other debt expense	$	206,790	$	199,056	$	129,214	$	93,676	$	57,122
Interest capitalized		114		—		—		—		—
Preferred stock dividends		—		3,449		—		—		—
Fixed charges	$	206,904	$	202,505	$	129,214	$	93,676	$	57,122
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		1.68		1.54		1.93		2.24		2.59