Attached files
| file | filename |
|---|---|
| EX-32.02 - EX-32.02 - Arlington Asset Investment Corp. | ai-ex3202_9.htm |
| EX-32.01 - EX-32.01 - Arlington Asset Investment Corp. | ai-ex3201_11.htm |
| EX-31.02 - EX-31.02 - Arlington Asset Investment Corp. | ai-ex3102_10.htm |
| EX-31.01 - EX-31.01 - Arlington Asset Investment Corp. | ai-ex3101_7.htm |
| EX-23.01 - EX-23.01 - Arlington Asset Investment Corp. | ai-ex2301_6.htm |
| EX-21.01 - EX-21.01 - Arlington Asset Investment Corp. | ai-ex2101_12.htm |
| 10-K - 10-K - Arlington Asset Investment Corp. | ai-10k_20171231.htm |
Exhibit 12.01
Arlington Asset Investment Corp.
Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(dollars in thousands)
|
|
|
Year Ended December 31, |
|
|||||||||||||||||
|
Ratio of earnings to fixed charges: |
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|||||
|
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees |
|
$ |
56,460 |
|
|
$ |
(14,512 |
) |
|
$ |
(32,403 |
) |
|
$ |
55,189 |
|
|
$ |
14,253 |
|
|
Distributed income of equity investees |
|
|
477 |
|
|
|
809 |
|
|
|
1,628 |
|
|
|
413 |
|
|
|
90 |
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense and amortization of debt discount and premium on all indebtedness |
|
|
51,514 |
|
|
|
29,222 |
|
|
|
18,889 |
|
|
|
11,391 |
|
|
|
8,529 |
|
|
Rentals |
|
|
88 |
|
|
|
87 |
|
|
|
92 |
|
|
|
83 |
|
|
|
81 |
|
|
Total fixed charges |
|
$ |
51,602 |
|
|
$ |
29,309 |
|
|
$ |
18,981 |
|
|
$ |
11,474 |
|
|
$ |
8,610 |
|
|
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees plus fixed charges and distributed income of equity investees |
|
$ |
108,539 |
|
|
$ |
15,606 |
|
|
$ |
(11,794 |
) |
|
$ |
67,076 |
|
|
$ |
22,953 |
|
|
Ratio of earnings to fixed charges |
|
|
2.1 |
|
|
(A) |
|
|
(A) |
|
|
|
5.8 |
|
|
|
2.7 |
|
||
|
|
|
Year Ended December 31, |
|
|||||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred stock dividends: |
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|||||
|
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees |
|
$ |
56,460 |
|
|
$ |
(14,512 |
) |
|
$ |
(32,403 |
) |
|
$ |
55,189 |
|
|
$ |
14,253 |
|
|
Distributed income of equity investees |
|
|
477 |
|
|
|
809 |
|
|
|
1,628 |
|
|
|
413 |
|
|
|
90 |
|
|
Preferred stock dividends |
|
|
251 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense and amortization of debt discount and premium on all indebtedness |
|
|
51,514 |
|
|
|
29,222 |
|
|
|
18,889 |
|
|
|
11,391 |
|
|
|
8,529 |
|
|
Rentals |
|
|
88 |
|
|
|
87 |
|
|
|
92 |
|
|
|
83 |
|
|
|
81 |
|
|
Total fixed charges |
|
$ |
51,602 |
|
|
$ |
29,309 |
|
|
$ |
18,981 |
|
|
$ |
11,474 |
|
|
$ |
8,610 |
|
|
Pre-tax income (loss) available (attributable) to common stock adjusted to exclude income or loss from equity investees plus fixed charges, distributed income of equity investees and dividends on preferred stock |
|
$ |
108,790 |
|
|
$ |
15,606 |
|
|
$ |
(11,794 |
) |
|
$ |
67,076 |
|
|
$ |
22,953 |
|
|
Ratio of earnings to fixed charges |
|
|
2.1 |
|
|
(A) |
|
|
(A) |
|
|
|
5.8 |
|
|
|
2.7 |
|
||
|
(A) |
For the years ended December 31, 2016 and 2015, the ratio coverage in the period was less than 1:1. The Company would have had to generate additional earnings of $13,703 and $30,775, respectively, to achieve coverage of 1:1 in those periods. |