Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - AG Mortgage Investment Trust, Inc. | v459504_ex32-2.htm |
| EX-32.1 - EXHIBIT 32.1 - AG Mortgage Investment Trust, Inc. | v459504_ex32-1.htm |
| EX-31.2 - EXHIBIT 31.2 - AG Mortgage Investment Trust, Inc. | v459504_ex31-2.htm |
| EX-31.1 - EXHIBIT 31.1 - AG Mortgage Investment Trust, Inc. | v459504_ex31-1.htm |
| EX-23.1 - EXHIBIT 23.1 - AG Mortgage Investment Trust, Inc. | v459504_ex23-1.htm |
| EX-21.1 - EXHIBIT 21.1 - AG Mortgage Investment Trust, Inc. | v459504_ex21-1.htm |
| 10-K - FORM 10-K - AG Mortgage Investment Trust, Inc. | v459504_10k.htm |
Exhibit 12.1
AG Mortgage Investment Trust, Inc.
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
The following table sets forth the calculation of our ratio of earnings to combined fixed charges and preferred stock dividends for each of the periods indicated:
| Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | ||||||||||||||||
| December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 | December 31, 2012 | ||||||||||||||||
| Net Income/(Loss) | $ | 63,682,771 | $ | 13,818,537 | $ | 109,395,568 | $ | (31,578,636 | ) | $ | 134,935,917 | |||||||||
| Fixed Charges (1) | 40,259,274 | 45,065,367 | 51,464,389 | 59,408,921 | 28,797,622 | |||||||||||||||
| Preferred stock dividends | 13,469,416 | 13,469,416 | 13,469,416 | 13,469,416 | 4,137,010 | |||||||||||||||
| Total fixed charges and preferred stock dividends | 53,728,690 | 58,534,783 | 64,933,805 | 72,878,337 | 32,934,632 | |||||||||||||||
| Earnings available to cover fixed charges and preferred stock dividends | $ | 117,411,461 | $ | 72,353,320 | $ | 174,329,373 | $ | 41,299,701 | $ | 167,870,549 | ||||||||||
| Ratio of earnings to combined fixed charges and preferred stock dividends | 2.2 | 1.2 | 2.7 | 0.6 | 5.1 | |||||||||||||||
(1) Fixed charges consist of interest expense on all indebtedness reported for GAAP, plus $2.6 million, $5.9 million, and $3.8 million relating to the underlying interest charge on repurchase agreements accounted for as a component of linked transactions for the years ended December 31, 2014, December 31, 2013, and December 31, 2012, respectively. Due to ASU 2014-11 being effective as of January 1, 2015, the Company is required to separately account for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, and as a result, no interest expense relating to the underlying interest charges on repurchase agreements accounted for as a component of linked transactions was recognized for the years ended December 31, 2016 or December 31, 2015. Additionally, fixed charges consist of $6.0 million, $13.2 million, $22.3 million, $27.9 million and $10.0 million relating to the net periodic interest settlements of interest rate swaps for the years ended December 31, 2016, December 31, 2015, December 31, 2014, December 31, 2013, and December 31, 2012, respectively. Fixed charges also consist of $0.5 and $0.6 million of interest expense relating to investments held through affiliated entities, exclusive of our investment in AG Arc, at December 31, 2016 and December 31, 2015, respectively. We had an immaterial amount of interest expense relating to investments held through affiliated entities at December 31, 2014. We had no such interest expense for any of the years ended December 31, 2013, or December 31, 2012.