Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - CAPSTEAD MORTGAGE CORP | cmo-10q_20170331.htm |
| EX-32 - EX-32 - CAPSTEAD MORTGAGE CORP | cmo-ex32_6.htm |
| EX-31.1 - EX-31.1 - CAPSTEAD MORTGAGE CORP | cmo-ex311_8.htm |
EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF NET INCOME TO FIXED CHARGES AND RATIO OF NET INCOME TO COMBINED FIXED CHARGES AND PREFERRED STOCK ITEMS
(In thousands, except ratios)
(Unaudited)
Computation of ratio of net income to fixed charges:
|
|
|
Three Months Ended March 31, |
|
|
Year Ended December 31 |
|
||||||||||||||||||
|
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
||||||
|
Fixed charges |
|
$ |
30,131 |
|
|
$ |
115,486 |
|
|
$ |
93,975 |
|
|
$ |
73,643 |
|
|
$ |
75,104 |
|
|
$ |
77,848 |
|
|
Fixed charges |
|
$ |
30,131 |
|
|
$ |
115,486 |
|
|
$ |
93,975 |
|
|
$ |
73,643 |
|
|
$ |
75,104 |
|
|
$ |
77,848 |
|
|
Net income |
|
|
22,701 |
|
|
|
82,873 |
|
|
|
108,325 |
|
|
|
140,820 |
|
|
|
126,487 |
|
|
|
163,626 |
|
|
|
|
$ |
52,832 |
|
|
$ |
198,359 |
|
|
$ |
202,300 |
|
|
$ |
214,463 |
|
|
$ |
201,591 |
|
|
$ |
241,474 |
|
|
Ratio of net income to fixed charges |
|
1.75:1 |
|
|
1.72:1 |
|
|
2.15:1 |
|
|
2.91:1 |
|
|
2.68:1 |
|
|
3.10:1 |
|
||||||
Computation of ratio of net income to combined fixed charges and preferred stock dividends:
|
|
|
Three Months Ended March 31, |
|
|
Year Ended December 31 |
|
||||||||||||||||||
|
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
||||||
|
Fixed charges |
|
$ |
30,131 |
|
|
$ |
115,486 |
|
|
$ |
93,975 |
|
|
$ |
73,643 |
|
|
$ |
75,104 |
|
|
$ |
77,848 |
|
|
Preferred stock items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redemption preference premiums* |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
19,924 |
|
|
|
— |
|
|
Dividends |
|
|
3,864 |
|
|
|
15,372 |
|
|
|
15,160 |
|
|
|
13,781 |
|
|
|
17,536 |
|
|
|
21,021 |
|
|
Combined fixed charges and preferred stock items |
|
$ |
33,995 |
|
|
$ |
130,858 |
|
|
$ |
109,135 |
|
|
$ |
87,424 |
|
|
$ |
112,564 |
|
|
$ |
98,869 |
|
|
Fixed charges |
|
$ |
30,131 |
|
|
$ |
115,486 |
|
|
$ |
93,975 |
|
|
$ |
73,643 |
|
|
$ |
75,104 |
|
|
$ |
77,848 |
|
|
Net income |
|
|
22,701 |
|
|
|
82,873 |
|
|
|
108,325 |
|
|
|
140,820 |
|
|
|
126,487 |
|
|
|
163,626 |
|
|
|
|
$ |
52,832 |
|
|
$ |
198,359 |
|
|
$ |
202,300 |
|
|
$ |
214,463 |
|
|
$ |
201,591 |
|
|
$ |
241,474 |
|
|
Ratio of net income to combined fixed charges and preferred stock dividends |
|
1.55:1 |
|
|
1.52:1 |
|
|
1.85:1 |
|
|
2.45:1 |
|
|
1.79:1 |
|
|
2.44:1 |
|
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|
* |
Capstead’s Series A and B preferred shares were redeemed in June 2013. The ratio of net income to combined fixed charges and preferred stock dividends excluding the redemption preference premiums was 2.18:1 for the year ended December 31, 2013. |