Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Physicians Realty Trust | a8-kdebtprospectuslpandtru.htm |
Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
Physicians Realty L.P.
(amounts in thousands)
Nine Months Ended September 30, 2017 | Years Ended December 31, | ||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | Predecessor 2012 | |||||||||||||||||||
Net income (loss) | $ | 29,586 | $ | 31,522 | $ | 12,741 | $ | (4,418 | ) | $ | (2,636 | ) | $ | (2,855 | ) | ||||||||
Adjustment for equity investees | (85 | ) | (115 | ) | (104 | ) | (95 | ) | — | — | |||||||||||||
Net income (loss) before adjustment for equity investees | 29,501 | 31,407 | 12,637 | (4,513 | ) | (2,636 | ) | (2,855 | ) | ||||||||||||||
Plus fixed charges: | |||||||||||||||||||||||
Interest expense | $ | 31,597 | $ | 21,540 | $ | 9,263 | $ | 5,988 | $ | 3,785 | $ | 4,270 | |||||||||||
Amortization and write-off of debt issuance costs | 1,688 | 2,324 | 1,373 | 919 | 510 | 268 | |||||||||||||||||
Estimated interest portion of rental expense | 631 | 634 | 430 | 361 | 6 | 6 | |||||||||||||||||
Fixed charges | 33,916 | 24,498 | 11,066 | 7,268 | 4,301 | 4,544 | |||||||||||||||||
Earnings | $ | 63,417 | $ | 55,905 | $ | 23,703 | $ | 2,755 | $ | 1,665 | $ | 1,689 | |||||||||||
Ratio of Earnings to Fixed Charges (1) | 1.87 | x | 2.28 | x | 2.14 | x | — | — | — | ||||||||||||||
(1) | The computation of ratio of earnings to fixed charges indicates that earnings were inadequate to cover fixed charges on the basis of our historical financial statements by approximately $4.5 million, $2.6 million and $2.9 million for the years ended December 31, 2014, 2013 and 2012 (Predecessor), respectively. |