EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
Nine Months | ||||||||||||||||||||||||
Ended | Year Ended December 31 | |||||||||||||||||||||||
September 30, 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||
Fixed charges | $ | 75,631 | $ | 49,179 | $ | 62,859 | $ | 169,148 | $ | 362,327 | $ | 540,605 | ||||||||||||
Preferred stock dividends | 15,192 | 20,259 | 20,273 | 20,362 | 20,446 | 24,260 | ||||||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 90,823 | $ | 69,438 | $ | 83,132 | $ | 189,510 | $ | 382,773 | $ | 564,865 | ||||||||||||
Fixed charges | $ | 75,631 | $ | 49,179 | $ | 62,859 | $ | 169,148 | $ | 362,327 | $ | 540,605 | ||||||||||||
Net income (loss) | 18,207 | 41,805 | 60,659 | 96,123 | 106,276 | (51,486 | ) | |||||||||||||||||
$ | 93,838 | $ | 90,984 | $ | 123,518 | $ | 265,271 | $ | 468,603 | $ | 489,119 | |||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.03:1 | 1.31:1 | 1.49:1 | 1.40:1 | 1.22:1 | 0.87:1 | ||||||||||||||||||