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10-Q - 10-Q - Sabra Health Care REIT, Inc.sbra10q2016q3.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3222016q3.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3212016q3.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3122016q3.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3112016q3.htm
Exhibit 12.1



SABRA HEALTH CARE REIT, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)

 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
Pre-tax net income
 
$
25,312

 
$
18,034

 
$
47,035

 
$
54,299

 
Add:
 
 
 
 
 
 
 
 
 
Fixed charges
 
15,809

 
15,184

 
49,184

 
43,133

 
Noncontrolling interest
 
25

 
27

 
66

 
47

Earnings, as adjusted
 
$
41,146

 
$
33,245

 
$
96,285

 
$
97,479

 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
 
$
14,494

 
$
13,850

 
$
45,291

 
$
39,202

 
Amortized premiums, discounts and capitalized expenses related to indebtedness
 
1,300

 
1,326

 
3,848

 
3,906

 
Estimate of interest within rental expense
 
15

 
8

 
45

 
25

Fixed charges, as adjusted
 
15,809

 
15,184

 
49,184

 
43,133

Preferred stock dividends
 
2,561

 
2,561

 
7,682

 
7,682

Combined fixed charges and preferred stock dividends
 
$
18,370

 
$
17,745

 
$
56,866

 
$
50,815

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
2.60
x
 
2.19
x
 
1.96
x
 
2.26
x
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred stock dividends
 
2.24
x
 
1.87
x
 
1.69
x
 
1.92
x