NATIONAL HEALTH INVESTORS INC - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF FIXED CHARGES - February 16, 2017

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EX-32 - CERTIFICATION OF CEO AND PFO AND PAO - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex32.htm
EX-99.1 - FINANCIAL STATEMENT SCHEDULES - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex991.htm
EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER AND PRINCIPAL ACCOUNTING OFFICER - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex311.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex231.htm
EX-21 - SUBSIDIARIES - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex21.htm
EX-10.37 - EXHIBIT 10.37 - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex1037.htm
EX-10.36 - EXHIBIT 10.36 - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex1036.htm
EX-10.28 - EXHIBIT 10.28 - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex1028.htm
EX-10.27 - EXHIBIT 10.27 - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kex1027.htm
10-K - 10-K - NATIONAL HEALTH INVESTORS INCnhi-12312016x10kq4.htm


Exhibit 12.1
 
NATIONAL HEALTH INVESTORS, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings
 
 
 
 
 
 
 
 
 
Income from continuing operations before adjustment for income or loss from equity investees
$
153,930

 
$
152,081

 
$
103,123

 
$
79,174

 
$
72,789

Add: State franchise taxes based on gross receipts
244

 
124

 
133

 
132

 
117

Add: Fixed charges
43,657

 
37,986

 
26,948

 
9,607

 
3,700

Add: Amortization of capitalized interest
142

 
68

 
37

 
16

 
5

Subtract: Preferred stock dividends
—

 
—

 
—

 
—

 
—

Subtract: Interest capitalized
(549
)
 
(357
)
 
(576
)
 
(378
)
 
(208
)
Total Earnings
$
197,424

 
$
189,902

 
$
129,665

 
$
88,551

 
$
76,403

 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest expense
$
39,594

 
$
34,216

 
$
23,302

 
$
8,523

 
$
3,172

Interest capitalized
549

 
357

 
576

 
378

 
208

Amortization of costs related to indebtedness
3,514

 
3,413

 
3,070

 
706

 
320

Total Fixed Charges
43,657

 
37,986

 
26,948

 
9,607

 
3,700

Preferred Stock Dividends(1)
—

 
—

 
—

 
—

 
—

Combined Fixed Charges and Preferred Stock Dividends
$
43,657

 
$
37,986

 
$
26,948

 
$
9,607

 
$
3,700

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
4.52

 
5.00

 
4.81

 
9.22

 
20.65

 
 
 
 
 
 
 
 
 
 
(1) There was no preferred stock outstanding for any of the periods presented.
 
 
 
 
 
 
 
 
 



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