EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF NET INCOME TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
Computation of ratio of net income to combined fixed charges and preferred stock dividends:
| Nine Months Ended September 30, 2011 | Year Ended December 31, | |||||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
Fixed charges | $ | 48,337 | $ | 56,251 | $ | 128,830 | $ | 258,453 | $ | 275,648 | $ | 235,521 | ||||||||||||
Preferred stock dividends | 15,223 | 20,233 | 20,239 | 20,251 | 20,256 | 20,256 | ||||||||||||||||||
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Combined fixed charges and preferred stock dividends | $ | 63,560 | $ | 76,484 | $ | 149,069 | $ | 278,704 | $ | 295,904 | $ | 255,777 | ||||||||||||
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Fixed charges | $ | 48,337 | $ | 56,251 | $ | 128,830 | $ | 258,453 | $ | 275,648 | $ | 235,521 | ||||||||||||
Net income | 118,236 | 126,896 | 129,263 | 125,923 | 24,713 | 3,843 | ||||||||||||||||||
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| $ | 166,573 | $ | 183,147 | $ | 258,093 | $ | 384,376 | $ | 300,361 | $ | 239,364 | |||||||||||||
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Ratio of net income to combined fixed charges and preferred stock dividends | 2.62:1 | 2.39:1 | 1.73:1 | 1.38:1 | 1.02:1 | |||||||||||||||||||
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Deficiency of net income (before fixed charges) to combined fixed charges and preferred stock dividends | $ | 16,413 | ||||||||||||||||||||||
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