CoreSite Realty Corp - FORM 10-K - EX-12.1 - February 12, 2016

Attached files

file filename
10-K - 10-K - CoreSite Realty Corpa2227284z10-k.htm
EX-31.1 - EX-31.1 - CoreSite Realty Corpa2227284zex-31_1.htm
EX-32.1 - EX-32.1 - CoreSite Realty Corpa2227284zex-32_1.htm
EX-32.2 - EX-32.2 - CoreSite Realty Corpa2227284zex-32_2.htm
EX-12.2 - EX-12.2 - CoreSite Realty Corpa2227284zex-12_2.htm
EX-31.2 - EX-31.2 - CoreSite Realty Corpa2227284zex-31_2.htm
EX-21.1 - EX-21.1 - CoreSite Realty Corpa2227284zex-21_1.htm
EX-23.1 - EX-23.1 - CoreSite Realty Corpa2227284zex-23_1.htm
EX-10.32 - EX-10.32 - CoreSite Realty Corpa2227284zex-10_32.htm

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Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges
(in thousands)

 
   Year Ended December 31  
 
   2015   2014   2013   2012   2011  

Earnings:

                                

Net income (loss)

   $ 56,859   $ 40,052   $ 31,612   $ 10,716   $ (10,779 )

Add: Fixed charges

     15,184     14,639     12,016     10,792     10,971  

Add: Amortization of capitalized interest

     1,545     1,128     679     369     277  

Less: Capitalized interest

     (3,698 )   (4,633 )   (4,362 )   (1,837 )   (1,592 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings (loss)

   $ 69,890   $ 51,186   $ 39,945   $ 20,040   $ (1,123 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges:

                                

Interest expense (including amortization of deferred financing costs)

   $ 7,104   $ 5,311   $ 2,689   $ 5,236   $ 5,275  

Capitalized interest

     3,698     4,633     4,362     1,837     1,592  

Interest within rental expense

     4,382     4,695     4,965     3,719     4,104  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

     15,184     14,639     12,016     10,792     10,971  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ratio of earnings (loss) to combined fixed charges

     4.60     3.50     3.32     1.86     (1 )
(1)
The shortfall of earnings (loss) to combined fixed charges for the year ended December 31, 2011, was $12.1 million.



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