Attached files
file | filename |
---|---|
8-K - 8-K - HEALTHPEAK PROPERTIES, INC. | a11-3301_58k.htm |
EX-4.3 - EX-4.3 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex4d3.htm |
EX-8.1 - EX-8.1 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex8d1.htm |
EX-4.4 - EX-4.4 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex4d4.htm |
EX-5.2 - EX-5.2 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex5d2.htm |
EX-4.2 - EX-4.2 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex4d2.htm |
EX-5.1 - EX-5.1 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex5d1.htm |
EX-1.1 - EX-1.1 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex1d1.htm |
EX-4.5 - EX-4.5 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex4d5.htm |
EX-4.1 - EX-4.1 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex4d1.htm |
EX-12.2 - EX-12.2 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex12d2.htm |
EX-99.2 - EX-99.2 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex99d2.htm |
EX-99.1 - EX-99.1 - HEALTHPEAK PROPERTIES, INC. | a11-3301_5ex99d1.htm |
Exhibit 12.1
HCP, Inc.
RATIO OF EARNINGS TO FIXED CHARGES
and RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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|
Nine Months Ended |
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Year ended December 31, |
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September 30, 2010 |
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2009 |
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2008 |
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2007 |
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2006 |
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2005 |
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(In thousands, except ratios) |
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RATIO OF EARNINGS TO FIXED CHARGES |
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Fixed Charges: |
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Interest Expense and Debt Amortization: |
|
$ |
220,303 |
|
$ |
298,898 |
|
$ |
349,313 |
|
$ |
358,834 |
|
$ |
213,331 |
|
$ |
107,201 |
|
Rental Expense |
|
4,391 |
|
6,039 |
|
6,008 |
|
8,151 |
|
4,212 |
|
2,614 |
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Capitalized Interest |
|
15,514 |
|
25,917 |
|
27,490 |
|
12,346 |
|
895 |
|
637 |
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Fixed Charges |
|
$ |
240,208 |
|
$ |
330,854 |
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$ |
382,811 |
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$ |
379,331 |
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$ |
218,438 |
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$ |
110,452 |
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Earnings: |
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Pretax Income from Continuing Operations before Minority Interest and Income from Equity Investees |
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$ |
261,734 |
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$ |
99,711 |
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$ |
225,559 |
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$ |
124,927 |
|
$ |
33,331 |
|
$ |
52,887 |
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Add Back Fixed Charges |
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240,208 |
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330,854 |
|
382,811 |
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379,331 |
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218,438 |
|
110,452 |
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Add Distributed Income from Equity Investees |
|
5,441 |
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7,273 |
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6,745 |
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5,264 |
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8,331 |
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|
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Less Capitalized Interest |
|
(15,514 |
) |
(25,917 |
) |
(27,490 |
) |
(12,346 |
) |
(895 |
) |
(637 |
) | ||||||
Less Minority Interest from Subsidiaries without Fixed Charges |
|
(9,174 |
) |
(13,049 |
) |
(17,996 |
) |
(20,110 |
) |
(19,895 |
) |
(13,644 |
) | ||||||
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Total |
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$ |
482,695 |
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$ |
398,872 |
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$ |
569,629 |
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$ |
477,066 |
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$ |
239,310 |
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$ |
149,058 |
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Ratio of Earnings to Fixed Charges |
|
2.01 |
|
1.21 |
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1.49 |
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1.26 |
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1.10 |
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1.35 |
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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS |
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Fixed Charges: |
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Interest Expense and Debt Amortization: |
|
$ |
220,303 |
|
$ |
298,898 |
|
$ |
349,313 |
|
$ |
358,834 |
|
$ |
213,331 |
|
$ |
107,201 |
|
Preferred Stock Dividend |
|
15,848 |
|
21,130 |
|
21,130 |
|
21,130 |
|
21,130 |
|
21,130 |
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Rental Expense |
|
4,391 |
|
6,039 |
|
6,008 |
|
8,151 |
|
4,212 |
|
2,614 |
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Capitalized Interest |
|
15,514 |
|
25,917 |
|
27,490 |
|
12,346 |
|
895 |
|
637 |
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Fixed Charges |
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$ |
256,056 |
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$ |
351,984 |
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$ |
403,941 |
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$ |
400,461 |
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$ |
239,568 |
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$ |
131,582 |
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Earnings (see above) |
|
$ |
482,695 |
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$ |
398,872 |
|
$ |
569,629 |
|
$ |
477,066 |
|
$ |
239,310 |
|
$ |
149,058 |
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Ratio of Earnings to Fixed Charges |
|
1.89 |
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1.13 |
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1.41 |
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1.19 |
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(1) |
1.13 |
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(1) For the Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends for Year Ended December 31, 2006, fixed charges exceeded earnings resulting in a deficiency of $258,000.