Attached files

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EX-31.3 - EX-31.3 - MEDICAL PROPERTIES TRUST INCd506699dex313.htm
EX-32.2 - EX-32.2 - MEDICAL PROPERTIES TRUST INCd506699dex322.htm
EX-32.1 - EX-32.1 - MEDICAL PROPERTIES TRUST INCd506699dex321.htm
EX-31.4 - EX-31.4 - MEDICAL PROPERTIES TRUST INCd506699dex314.htm
EX-31.2 - EX-31.2 - MEDICAL PROPERTIES TRUST INCd506699dex312.htm
EX-31.1 - EX-31.1 - MEDICAL PROPERTIES TRUST INCd506699dex311.htm
EX-23.2 - EX-23.2 - MEDICAL PROPERTIES TRUST INCd506699dex232.htm
EX-23.1 - EX-23.1 - MEDICAL PROPERTIES TRUST INCd506699dex231.htm
EX-21.1 - EX-21.1 - MEDICAL PROPERTIES TRUST INCd506699dex211.htm
10-K - 10-K - MEDICAL PROPERTIES TRUST INCd506699d10k.htm

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

Medical Properties Trust, Inc.

The following table sets forth ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred dividends for the periods indicated below.

 

     Year Ended
December 31,
2017
    Year Ended
December 31,
2016
    Year Ended
December 31,
2015
    Year Ended
December 31,
2014
    Year Ended
December 31,
2013
 

Income From Continuing Operations Before Income Taxes

   $ 292,474     $ 218,219     $ 141,101     $ 50,864     $ 89,803  

Fixed Charges

     210,663       184,694       126,887       101,914       68,654  

Amortization of Capitalized Interest

     399       332       355       318       271  

Capitalized Interest

     (840     (2,320     (1,425     (1,860     (1,729

Earnings

   $ 502,696     $ 400,925     $ 266,918     $ 151,236     $ 156,999  

Interest Expense/Debt Refinancing Costs

   $ 209,528     $ 182,136     $ 125,252     $ 99,854     $ 66,746  

Portion of Rent Related to Interest

     295       238       210       200       179  

Capitalized Interest

     840       2,320       1,425       1,860       1,729  

Fixed Charges

   $ 210,663     $ 184,694     $ 126,887     $ 101,914     $ 68,654  

Preferred Stock Dividends

     —         —         —         —         —    

Combined Fixed Charges and Preferred Stock Dividends

   $ 210,663     $ 184,694     $ 126,887     $ 101,914     $ 68,654  

Ratio of Earnings to Fixed Charges

     2.39     2.17 x     2.10 x     1.48 x     2.29 x

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     2.39     2.17 x     2.10 x     1.48 x     2.29 x

Our ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Our ratio of earnings to combined fixed charges and preferred dividends is computed by dividing earnings by combined fixed charges and preferred dividends. For these purposes, “earnings” is the amount resulting from adding together income (loss) from continuing operations, fixed charges, and amortization of capitalized interest and subtracting interest capitalized. “Fixed charges” is the amount resulting from adding together interest expensed and capitalized; amortized premiums, discounts and capitalized expenses related to indebtedness; and the interest portion of rent. “Combined fixed charges and preferred dividends” is the amount resulting from adding together fixed changes and preferred dividends paid and accrued for each respective period.


Computation of Ratio of Earnings to Fixed Charges

MPT Operating Partnership, L.P.

The following table sets forth ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred dividends for the periods indicated below.

 

     Year Ended
December 31,
2017
    Year Ended
December 31,
2016
    Year Ended
December 31,
2015
    Year Ended
December 31,
2014
    Year Ended
December 31,
2013
 

Income From Continuing Operations Before Income Taxes

   $ 292,474     $ 218,219     $ 141,101     $ 50,864     $ 89,803  

Fixed Charges

     210,663       184,694       126,887       101,914       68,654  

Amortization of Capitalized Interest

     399       332       355       318       271  

Capitalized Interest

     (840     (2,320     (1,425     (1,860     (1,729

Earnings

   $ 502,696     $ 400,925     $ 266,918     $ 151,236     $ 156,999  

Interest Expense/Debt Refinancing Costs

   $ 209,528     $ 182,136     $ 125,252     $ 99,854     $ 66,746  

Portion of Rent Related to Interest

     295       238       210       200       179  

Capitalized Interest

     840       2,320       1,425       1,860       1,729  

Fixed Charges

   $ 210,663     $ 184,694     $ 126,887     $ 101,914     $ 68,654  

Preferred Stock Dividends

     —         —         —         —         —    

Combined Fixed Charges and Preferred Stock Dividends

   $ 210,663     $ 184,694     $ 126,887     $ 101,914     $ 68,654  

Ratio of Earnings to Fixed Charges

     2.39     2.17 x     2.10 x     1.48 x     2.29 x

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     2.39     2.17 x     2.10 x     1.48 x     2.29 x

Our ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Our ratio of earnings to combined fixed charges and preferred dividends is computed by dividing earnings by combined fixed charges and preferred dividends. For these purposes, “earnings” is the amount resulting from adding together income (loss) from continuing operations, fixed charges, and amortization of capitalized interest and subtracting interest capitalized. “Fixed charges” is the amount resulting from adding together interest expensed and capitalized; amortized premiums, discounts and capitalized expenses related to indebtedness; and the interest portion of rent. “Combined fixed charges and preferred dividends” is the amount resulting from adding together fixed changes and preferred dividends paid and accrued for each respective period.