EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF NET INCOME TO FIXED CHARGES AND RATIO OF NET INCOME TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
Computation of ratio of net income to fixed charges:
| Year Ended December 31, | ||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Fixed charges | $ | 66,080 | $ | 56,251 | $ | 128,830 | $ | 258,453 | $ | 275,648 | ||||||||||
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Fixed charges | $ | 66,080 | $ | 56,251 | $ | 128,830 | $ | 258,453 | $ | 275,648 | ||||||||||
Net income | 160,204 | 126,896 | 129,263 | 125,923 | 24,713 | |||||||||||||||
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| $ | 226,284 | $ | 183,147 | $ | 258,093 | $ | 384,376 | $ | 300,361 | |||||||||||
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Ratio of net income to fixed charges | 3.42:1 | 3.26:1 | 2.00:1 | 1.49:1 | 1.09:1 | |||||||||||||||
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Computation of ratio of net income to combined fixed charges and preferred stock dividends:
| Year Ended December 31, | ||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Fixed charges | $ | 66,080 | $ | 56,251 | $ | 128,830 | $ | 258,453 | $ | 275,648 | ||||||||||
Preferred stock dividends | 20,369 | 20,233 | 20,239 | 20,251 | 20,256 | |||||||||||||||
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Combined fixed charges and preferred stock dividends | $ | 86,449 | $ | 76,484 | $ | 149,069 | $ | 278,704 | $ | 295,904 | ||||||||||
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Fixed charges | $ | 66,080 | $ | 56,251 | $ | 128,830 | $ | 258,453 | $ | 275,648 | ||||||||||
Net income | 160,204 | 126,896 | 129,263 | 125,923 | 24,713 | |||||||||||||||
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| $ | 226,284 | $ | 183,147 | $ | 258,093 | $ | 384,376 | $ | 300,361 | |||||||||||
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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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