Attached files
| file | filename |
|---|---|
| EX-21.1 - EX-21.1 - Summit Hotel Properties, Inc. | a15-1763_1ex21d1.htm |
| EX-23.2 - EX-23.2 - Summit Hotel Properties, Inc. | a15-1763_1ex23d2.htm |
| EX-31.2 - EX-31.2 - Summit Hotel Properties, Inc. | a15-1763_1ex31d2.htm |
| EX-31.1 - EX-31.1 - Summit Hotel Properties, Inc. | a15-1763_1ex31d1.htm |
| EX-23.1 - EX-23.1 - Summit Hotel Properties, Inc. | a15-1763_1ex23d1.htm |
| EX-32.2 - EX-32.2 - Summit Hotel Properties, Inc. | a15-1763_1ex32d2.htm |
| EX-32.1 - EX-32.1 - Summit Hotel Properties, Inc. | a15-1763_1ex32d1.htm |
| EXCEL - IDEA: XBRL DOCUMENT - Summit Hotel Properties, Inc. | Financial_Report.xls |
| 10-K - ANNUAL REPORT PURSUANT TO SECTION 13 AND 15(D) - Summit Hotel Properties, Inc. | a15-1763_110k.htm |
Exhibit 12.1
Summit Hotel Properties, Inc.
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(Dollars in Thousands)
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For the |
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For the |
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Year Ended |
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Year Ended |
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Year Ended |
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2/14/11 |
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1/1/11 |
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Year Ended |
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12/31/2014 |
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12/31/2013 |
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12/31/2012 |
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12/31/2011 |
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2/13/2011 |
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12/31/2010 |
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Earnings |
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Pre-tax income (loss) from continuing operations |
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$ |
21,175 |
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$ |
11,519 |
|
$ |
(7,675 |
) |
$ |
(6,091 |
) |
$ |
(4,549 |
) |
$ |
(20,021 |
) |
|
Interest expense |
|
26,968 |
|
20,137 |
|
14,909 |
|
9,993 |
|
3,435 |
|
21,575 |
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Amortization of financing costs |
|
1,549 |
|
1,854 |
|
2,288 |
|
1,199 |
|
94 |
|
1,602 |
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Amortization of capitalized interest |
|
463 |
|
581 |
|
599 |
|
524 |
|
75 |
|
599 |
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Total Earnings |
|
$ |
50,155 |
|
$ |
34,091 |
|
$ |
10,121 |
|
$ |
5,625 |
|
$ |
(945 |
) |
$ |
3,755 |
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Fixed Charges |
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Interest expense |
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$ |
26,968 |
|
$ |
20,137 |
|
$ |
14,909 |
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$ |
9,993 |
|
$ |
3,435 |
|
$ |
21,575 |
|
|
Capitalized interest |
|
253 |
|
400 |
|
53 |
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— |
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— |
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— |
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Amortization of financing costs |
|
1,549 |
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1,854 |
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2,288 |
|
1,199 |
|
94 |
|
1,602 |
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|
Total Fixed Charges |
|
$ |
28,770 |
|
$ |
22,391 |
|
$ |
17,250 |
|
$ |
11,192 |
|
$ |
3,529 |
|
$ |
23,177 |
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Preferred Dividends |
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$ |
16,588 |
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$ |
14,590 |
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$ |
4,625 |
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$ |
411 |
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$ |
— |
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$ |
— |
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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
|
1.11 |
(1) |
0.92 |
(2) |
0.46 |
(3) |
0.48 |
(4) |
(0.27) |
(5) |
0.16 |
(6) | ||||||
(1) Earnings were more than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $45.4 million and the total amount of earnings was approximately $50.2 million. The amount of the adequacy, or the amount of earnings in excess of fixed charges and preferred stock dividends, was approximately $4.8 million.
(2) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $37.0 million and the total amount of earnings was approximately $34.1 million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $2.9 million.
(3) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $21.9 million and the total amount of earnings was approximately $10.1 million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $11.8 million.
(4) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $11.6 million and the total amount of earnings was approximately $5.6 million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $6.0 million.
(5) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $3.5 million and the total amount of earnings was approximately ($0.9) million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $4.5 million.
(6) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $23.2 million and the total amount of earnings was approximately $3.8 million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $19.4 million.