Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - City Office REIT, Inc. | d429678dex322.htm |
| EX-32.1 - EX-32.1 - City Office REIT, Inc. | d429678dex321.htm |
| EX-31.2 - EX-31.2 - City Office REIT, Inc. | d429678dex312.htm |
| EX-31.1 - EX-31.1 - City Office REIT, Inc. | d429678dex311.htm |
| EX-10.2 - EX-10.2 - City Office REIT, Inc. | d429678dex102.htm |
| 10-Q - FORM 10-Q - City Office REIT, Inc. | d429678d10q.htm |
Exhibit 12.1
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(In thousands, except share and per share data)
| City Office REIT Inc. | City Office REIT, Inc. Predecessor | |||||||||||||||||||||||||||
| Nine months ended September 30, 2017 |
Year ended December 31, 2016 |
Year ended December 31, 2015 |
Period from April 21, 2014 to December 31, 2014 |
Period from January 1, 2014 to April 20, 2014 |
Year ended December 31, 2013 |
Year ended December 31, 2012 |
||||||||||||||||||||||
| Earnings |
||||||||||||||||||||||||||||
| Add: |
||||||||||||||||||||||||||||
| Income/(Loss) from continuing operations before adjustment for income or loss from equity investees |
$ | 10,146 | $ | 376 | $ | (7,667 | ) | $ | (6,855 | ) | $ | (2,530 | ) | $ | (4,580 | ) | $ | (2,388 | ) | |||||||||
| Fixed charges |
13,968 | 14,761 | 11,353 | 7,180 | 3,772 | 5,368 | 3,686 | |||||||||||||||||||||
| Distributed income of equity investees |
— | — | — | — | — | 403 | 506 | |||||||||||||||||||||
| Subtract: |
||||||||||||||||||||||||||||
| Capitalized interest |
— | — | — | — | — | — | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Earnings |
$ | 24,114 | $ | 15,137 | $ | 3,686 | $ | 325 | $ | 1,242 | $ | 1,191 | $ | 1,804 | ||||||||||||||
| Fixed Charges |
||||||||||||||||||||||||||||
| Interest expense |
13,968 | 14,761 | 11,353 | 7,180 | 3,772 | 5,368 | 3,686 | |||||||||||||||||||||
| Capitalized interest |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Rental expense at computed interest factor(1) |
— | — | — | — | — | — | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Fixed Charges |
13,968 | 14,761 | 11,353 | 7,180 | 3,772 | 5,368 | 3,686 | |||||||||||||||||||||
| Preferred Stock Dividends |
5,556 | 1,781 | — | — | — | — | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Combined Fixed Charges and Preferred Stock Dividends |
$ | 19,524 | $ | 16,542 | $ | 11,353 | $ | 7,180 | $ | 3,772 | $ | 5,368 | $ | 3,686 | ||||||||||||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
1.24 | 0.92 | 0.32 | 0.05 | 0.33 | 0.22 | 0.49 | |||||||||||||||||||||
| Inadequate amount |
— | $ | 1,405 | $ | 7,667 | $ | 6,855 | $ | 2,530 | $ | 4,177 | $ | 1,882 | |||||||||||||||
| (1) | Amounts represent those portions of rent expense that are reasonable approximations of interest costs. |