EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF INCOME FROM CONTINUING OPERATIONS (BEFORE
FIXED CHARGES) TO COMBINED FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS
(In thousands, except ratios)
(Unaudited)
COMPUTATION OF RATIO OF INCOME FROM CONTINUING OPERATIONS (BEFORE
FIXED CHARGES) TO COMBINED FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS
(In thousands, except ratios)
(Unaudited)
Computation of ratio of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends:
Three Months | ||||||||||||||||||||||||
Ended | Year Ended December 31 | |||||||||||||||||||||||
March 31, 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||||
Income from continuing operations | $ | 2,711 | $ | 17,195 | $ | 39,869 | $ | 58,666 | $ | 95,246 | $ | 106,276 | ||||||||||||
Fixed charges | 49,130 | 106,909 | 44,939 | 58,924 | 164,994 | 363,317 | ||||||||||||||||||
Income from continuing operations before fixed charges | $ | 51,841 | $ | 124,104 | $ | 84,808 | $ | 117,590 | $ | 260,240 | $ | 469,593 | ||||||||||||
Fixed charges | $ | 49,130 | $ | 106,909 | $ | 44,939 | $ | 58,924 | $ | 164,994 | $ | 363,317 | ||||||||||||
Preferred stock dividends | 5,064 | 20,256 | 20,259 | 20,273 | 20,362 | 20,446 | ||||||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 54,194 | $ | 127,165 | $ | 65,198 | $ | 79,197 | $ | 185,356 | $ | 383,763 | ||||||||||||
Ratio of income from continuing operations before fixed charges to combined fixed charges and preferred stock dividends | 0.96:1 | 0.98:1 | 1.30:1 | 1.48:1 | 1.40:1 | 1.22:1 | ||||||||||||||||||