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:
Six Months Ended June 30, 2010 | ||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||
Fixed charges | $ | 28,888 | $ | 128,830 | $ | 258,453 | $ | 275,648 | $ | 235,521 | $ | 106,909 | ||||||
Preferred stock dividends | 10,117 | 20,239 | 20,251 | 20,256 | 20,256 | 20,256 | ||||||||||||
Combined fixed charges and preferred stock dividends | $ | 39,005 | $ | 149,069 | $ | 278,704 | $ | 295,904 | $ | 255,777 | $ | 127,165 | ||||||
Fixed charges | $ | 28,888 | $ | 128,830 | $ | 258,453 | $ | 275,648 | $ | 235,521 | $ | 106,909 | ||||||
Income from continuing operations | 70,196 | 129,263 | 125,923 | 24,713 | 3,843 | 17,195 | ||||||||||||
| $ | 99,084 | $ | 258,093 | $ | 384,376 | $ | 300,361 | $ | 239,364 | $ | 124,104 | |||||||
Ratio of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends | 2.54:1 | 1.73:1 | 1.38:1 | 1.02:1 | ||||||||||||||
Deficiency of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends | $ | 16,413 | $ | 3,061 | ||||||||||||||