Attached files
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| 8-K - FORN 8-K - ASHFORD HOSPITALITY TRUST INC | d308411d8k.htm |
Exhibit 12
ASHFORD HOSPITALITY TRUST, INC.
FIXED CHARGE RATIO
(dollars in thousands)
| Year Ended December 31, | ||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
| Earnings |
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| Income (loss) from continuing operations before provision for income taxes and redeemable noncontrolling interests |
$ | 5,609 | $ | (71,459 | ) | $ | (186,885 | ) | $ | 98,689 | $ | 4,853 | ||||||||
| Amount recorded for (income) loss in unconsolidated joint venture |
(14,528 | ) | 20,265 | (2,486 | ) | 2,205 | — | |||||||||||||
| Add: |
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| Distributions from equity investment in joint venture |
— | 492 | 873 | 1,800 | — | |||||||||||||||
| Interest on indebtedness |
134,585 | 143,264 | 139,390 | 153,116 | 148,121 | |||||||||||||||
| Amortization of debt expense and premium |
4,648 | 5,838 | 7,700 | 6,747 | 7,781 | |||||||||||||||
| Interest component of operating leases |
385 | 525 | 598 | 622 | 524 | |||||||||||||||
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| $ | 130,699 | $ | 98,925 | $ | (40,810 | ) | $ | 263,179 | $ | 161,279 | ||||||||||
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| Fixed charges |
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| Interest on indebtedness |
$ | 134,585 | $ | 143,264 | $ | 139,390 | $ | 153,116 | $ | 148,121 | ||||||||||
| Amortization of debt expense and premium |
4,648 | 5,838 | 7,700 | 6,747 | 7,781 | |||||||||||||||
| Interest component of operating leases |
385 | 525 | 598 | 622 | 524 | |||||||||||||||
| Dividends to Class B unit holders |
2,943 | 2,943 | 2,827 | 2,788 | 2,883 | |||||||||||||||
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| 142,561 | 152,570 | 150,515 | 163,273 | 159,309 | ||||||||||||||||
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| Preferred stock dividends |
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| Preferred Series A |
3,180 | 3,180 | 3,180 | 4,855 | 4,916 | |||||||||||||||
| Preferred Series B-1 |
1,374 | 4,143 | 4,171 | 5,735 | 6,256 | |||||||||||||||
| Preferred Series C |
— | — | — | — | 5,166 | |||||||||||||||
| Preferred Series D |
18,940 | 13,871 | 11,971 | 16,052 | 7,652 | |||||||||||||||
| Preferred Series E |
6,019 | — | — | — | — | |||||||||||||||
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| 29,513 | 21,194 | 19,322 | 26,642 | 23,990 | ||||||||||||||||
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| Combined fixed charges and preferred stock dividends |
$ | 172,074 | $ | 173,764 | $ | 169,837 | $ | 189,915 | $ | 183,299 | ||||||||||
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| Ratio of earnings to fixed charges |
1.61 | 1.01 | ||||||||||||||||||
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| Ratio of earnings to combined fixed charges and preferred stock dividends |
1.39 | |||||||||||||||||||
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| Deficit (Fixed charges) |
$ | 11,862 | $ | 53,645 | $ | 191,325 | ||||||||||||||
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| Deficit (Combined fixed charges and preferred stock dividends) |
$ | 41,375 | $ | 74,839 | $ | 210,647 | $ | 22,020 | ||||||||||||
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