Attached files
file | filename |
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10-Q - 10-Q - CAPITALSOURCE INC | w76117e10vq.htm |
EX-32 - EX-32 - CAPITALSOURCE INC | w76117exv32.htm |
EX-31.1 - EX-31.1 - CAPITALSOURCE INC | w76117exv31w1.htm |
EX-10.5 - EX-10.5 - CAPITALSOURCE INC | w76117exv10w5.htm |
EX-31.2 - EX-31.2 - CAPITALSOURCE INC | w76117exv31w2.htm |
EX-10.4 - EX-10.4 - CAPITALSOURCE INC | w76117exv10w4.htm |
EX-10.2 - EX-10.2 - CAPITALSOURCE INC | w76117exv10w2.htm |
EX-10.3 - EX-10.3 - CAPITALSOURCE INC | w76117exv10w3.htm |
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Nine Months Ended | Years Ended December 31, | |||||||||||||||||||||||
September 30, 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
($ in thousands) | ||||||||||||||||||||||||
Fixed charges (1): |
||||||||||||||||||||||||
Total interest expense |
$ | 347,246 | $ | 699,043 | $ | 864,239 | $ | 621,666 | $ | 199,805 | $ | 87,819 | ||||||||||||
Interest capitalized |
| | 357 | 414 | 932 | | ||||||||||||||||||
Interest portion of rental expense |
2,440 | 1,994 | 1,697 | 1,327 | 1,244 | 1,494 | ||||||||||||||||||
Total fixed charges |
$ | 349,686 | $ | 701,037 | $ | 866,293 | $ | 623,407 | $ | 201,981 | $ | 89,313 | ||||||||||||
Earnings: |
||||||||||||||||||||||||
Net (loss) income before noncontrolling interests and income taxes |
$ | (489,178 | ) | $ | (407,912 | ) | $ | 251,790 | $ | 335,808 | $ | 255,202 | $ | 196,655 | ||||||||||
Fixed charges |
349,686 | 701,037 | 866,293 | 623,407 | 201,981 | 89,313 | ||||||||||||||||||
Less: Interest capitalized |
| | (357 | ) | (414 | ) | (932 | ) | | |||||||||||||||
Total earnings before fixed charges |
$ | (139,492 | ) | $ | 293,125 | $ | 1,117,726 | $ | 958,801 | $ | 456,251 | $ | 285,968 | |||||||||||
Ratio of earnings to fixed charges (2) |
-0.4 | x | 0.4 | x | 1.3 | x | 1.5 | x | 2.3 | x | 3.2 | x | ||||||||||||
(1) | Excludes interest related to the application of accounting for uncertain tax positions in accordance with the Income Taxes Topic of the Accounting Standards Codification. | |
(2) | The earnings for the nine months ended September 30, 2009 and for year ended December 31, 2008 were inadequate to cover fixed charges. The coverage deficiency for total fixed charges for the nine months ended September 30, 2009 and for the year ended December 31, 2008 were $489.2 million and $407.9 million, respectively. |