Armour Residential REIT, Inc. - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 14, 2018

Attached files

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EX-32.3 - EXHIBIT 32.3 - Armour Residential REIT, Inc.arr-q42017xex323jmountain.htm
EX-32.2 - EXHIBIT 32.2 - Armour Residential REIT, Inc.arr-q42017xex322jzimmer.htm
EX-32.1 - EXHIBIT 32.1 - Armour Residential REIT, Inc.arr-q42017xex321sulm.htm
EX-31.3 - EXHIBIT 31.3 - Armour Residential REIT, Inc.arr-q42017xex313jmountain.htm
EX-31.2 - EXHIBIT 31.2 - Armour Residential REIT, Inc.arr-q42017xex312jzimmer.htm
EX-31.1 - EXHIBIT 31.1 - Armour Residential REIT, Inc.arr-q42017xex311sulm.htm
EX-23.1 - EXHIBIT 23.1 - Armour Residential REIT, Inc.arr-q42017xex231consent.htm
EX-21.1 - EXHIBIT 21.1 - Armour Residential REIT, Inc.arr-q42017xex211significan.htm
10-K - 10-K - Armour Residential REIT, Inc.arr-12312017x10k.htm



EXHIBIT 12.1
 

RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (UNAUDITED)


 
 
For the Years Ended
 
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
 
December 31, 2014
 
December 31, 2013
 
 
(in thousands)
Income (loss) before taxes
 
$
181,154

 
$
(45,517
)
 
$
(31,205
)
 
$
(179,048
)
 
$
(187,054
)
Fixed charges (interest expense)
 
$
94,558

 
$
73,107

 
$
59,278

 
$
65,113

 
$
84,550

Earnings adjusted
 
$
275,712

 
$
27,590

 
$
28,073

 
$
(113,935
)
 
$
(102,504
)
Ratio of earnings to fixed charges
 
2.92

 
0.38

 
0.47

 
(1.75
)
 
(1.21
)
Deficiency
 
$
—

 
$
45,517

 
$
31,205

 
$
179,048

 
$
187,054

Preferred stock dividends
 
$
15,880

 
$
15,622

 
$
15,622

 
$
15,620

 
$
14,213

Combined fixed charges and preferred stock dividends
 
$
110,438

 
$
88,729

 
$
74,900

 
$
80,733

 
$
98,763

Ratio of earnings to combined fixed charges and preferred stock dividends.
 
2.50

 
0.31

 
0.37

 
(1.41
)
 
(1.04
)
Deficiency
 
$
—

 
$
61,139

 
$
46,827

 
$
194,668

 
$
201,267




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