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EXHIBIT 12.1
HEALTH CARE REIT, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31
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1996 1995 1994 1993 1992
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(in thousands)
CONSOLIDATED EARNINGS:
Net income 30,676 13,635 24,953 20,055 16,515
Add:
Interest Expense 14,635 12,752 9,684 10,817 8,160
Amortization of
Loan Expenses 808 752 638 328 244
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Consolidated Earnings 46,119 27,139 35,275 31,200 24,919
CONSOLIDATED FIXED CHARGES:
Interest Expense 14,635 12,752 9,684 10,817 8,160
Capitalized Interest 287
Amortization of
Loan Expenses 808 752 638 328 244
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Consolidated Fixed Charges 15,730 13,504 10,322 11,145 8,404
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Ratio 2.93 2.01 3.42 2.80 2.97