Capstead Mortgage (CMO) 10-Q2013 Q1 Quarterly report

Filed: 2 May 13, 12:00am

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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:


	*Three Months* *Ended* *March 31,*		*Year Ended December 31*
	*2013*		*2012*		*2011*		*2010*		*2009*		*2008*
Fixed charges	$	20,655	$	77,848	$	66,080	$	56,251	$	128,830	$	258,453

Fixed charges	$	20,655	$	77,848	$	66,080	$	56,251	$	128,830	$	258,453
Net income		34,918		163,626		160,204		126,896		129,263		125,923

	$	55,573	$	241,474	$	226,284	$	183,147	$	258,093	$	384,376

Ratio of net income to fixed charges		2.69:1		3.10:1		3.42:1		3.26:1		2.00:1		1.49:1

Computation of ratio of net income to combined fixed charges and preferred stock dividends:


	*Three Months* *Ended* *March 31,*		*Year Ended December 31*
	*2013*		*2012*		*2011*		*2010*		*2009*		*2008*
Fixed charges	$	20,655	$	77,848	$	66,080	$	56,251	$	128,830	$	258,453
Preferred stock dividends		5,270		21,021		20,369		20,233		20,239		20,251

Combined fixed charges and preferred stock dividends	$	25,925	$	98,869	$	86,449	$	76,484	$	149,069	$	278,704

Fixed charges	$	20,655	$	77,848	$	66,080	$	56,251	$	128,830	$	258,453
Net income		34,918		163,626		160,204		126,896		129,263		125,923

	$	55,573	$	241,474	$	226,284	$	183,147	$	258,093	$	384,376

Ratio of net income to combined fixed charges and preferred stock dividends		2.14:1		2.44:1		2.62:1		2.39:1		1.73:1		1.38:1

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