Exhibit 12.2
HCP
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in Thousands)
|
| Six Months |
| Year Ended |
|
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES |
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges: |
|
|
|
|
|
Interest Expense and Debt Amortization |
| 201,857 |
| 365,365 |
|
Rental Expense |
| 2,227 |
| 3,528 |
|
Capitalized Interest |
| 1,139 |
| 5,411 |
|
Fixed Charges |
| 205,223 |
| 374,304 |
|
Earnings: |
|
|
|
|
|
Pretax Income from Continuing Operations before Minority Interest and Income from Equity Investees |
| 47,824 |
| 79,575 |
|
Add Back Fixed Charges |
| 205,223 |
| 374,304 |
|
Add Distributed Income from Equity Investees |
| 5,898 |
| 227 |
|
Add Losses from Equity Investees for which charges arising from guarantees are included in fixed charges |
| (48 | ) | (2,159 | ) |
Less Capitalized Interest |
| (1,139 | ) | (5,411 | ) |
Less Minority Interest from Subsidiaries without Fixed Charges |
| (2,885 | ) | (4,489 | ) |
Total |
| 254,873 |
| 442,047 |
|
Ratio of Earnings to Fixed Charges |
| 1.24 |
| 1.18 |
|
|
|
|
|
|
|
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS |
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges: |
|
|
|
|
|
Interest Expense and Debt Amortization |
| 201,857 |
| 365,365 |
|
Preferred Stock Dividend |
| 10,566 |
| 21,130 |
|
Rental Expense |
| 2,227 |
| 3,528 |
|
Capitalized Interest |
| 1,139 |
| 5,411 |
|
Fixed Charges |
| 215,789 |
| 395,434 |
|
Earnings (see above) |
| 254,873 |
| 442,047 |
|
Ratio of Earnings to Fixed Charges |
| 1.18 |
| 1.12 |
|
