Attached files
| file | filename |
|---|---|
| 10-K - 10-K - LTC PROPERTIES INC | a2202129z10-k.htm |
| EX-32 - EXHIBIT 32 - LTC PROPERTIES INC | a2202129zex-32.htm |
| EX-21 - EXHIBIT 21 - LTC PROPERTIES INC | a2202129zex-21.htm |
| EX-31.1 - EXHIBIT 31.1 - LTC PROPERTIES INC | a2202129zex-31_1.htm |
| EX-31.2 - EXHIBIT 31.2 - LTC PROPERTIES INC | a2202129zex-31_2.htm |
| EX-23.1 - EXHIBIT 23.1 - LTC PROPERTIES INC | a2202129zex-23_1.htm |
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RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
| |
Year Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||
Income from continuing operations |
$ | 45,521 | $ | 44,135 | $ | 42,967 | $ | 47,803 | $ | 45,360 | ||||||||
Add: Fixed charges |
2,844 | 2,714 | 4,421 | 5,300 | 7,371 | |||||||||||||
Less: Capitalized interest |
(117 | ) | (40 | ) | (60 | ) | — | — | ||||||||||
Less: Income allocated to non-controlling interests |
(191 | ) | (296 | ) | (307 | ) | (343 | ) | (343 | ) | ||||||||
Earnings |
$ | 48,057 | $ | 46,513 | $ | 47,021 | $ | 52,760 | $ | 52,388 | ||||||||
Fixed Charges |
||||||||||||||||||
Interest expense (includes amortization of debt issue costs and capitalized interest) |
2,653 | 2,418 | 4,114 | 4,957 | 7,028 | |||||||||||||
Income allocated to non-controlling interests |
191 | 296 | 307 | 343 | 343 | |||||||||||||
Total fixed charges |
2,844 | 2,714 | 4,421 | 5,300 | 7,371 | |||||||||||||
Preferred stock dividend |
13,662 | 15,141 | 15,390 | 16,923 | 17,157 | |||||||||||||
Total fixed charges and preferred dividends |
$ | 16,506 | $ | 17,855 | $ | 19,811 | $ | 22,223 | $ | 24,528 | ||||||||
Ratio of earnings to fixed charges |
16.90 |
17.14 |
10.64 |
9.95 |
7.11 |
|||||||||||||
Ratio of earnings to fixed charges and preferred dividends |
2.91 |
2.61 |
2.37 |
2.37 |
2.14 |
|||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES
Instructions to S-K Item 503(d)
Definition as of February 2, 2011
Calculation of Fixed Charges
Sum
of the following:
Interest expense and capitalized
Amortized premiums, discounts and capitalized expenses related to indebtedness
An estimate of the interest within rental expense
Preference security dividend requirement of consolidated subsidiaries
Calculation of Earnings
Pre-tax income from continuing operations before adjustment for income or loss from equity investees
Add:
Fixed charges
Add: Amortization of capitalized interest
Add: Distributed income of equity investees
Add: Company's share of pre-tax losses of equity investees for which charges arising from guarantees
are included in fixed charges
Sub: interest capitalized
Sub: preference security dividend requirements of consolidated subsidiaries
Sub: non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges
- NOTE:
- Per review of our competitor filings, Preferred stock dividends are not included in the calculation of Earnings
Definition of Preference Security Dividend
The amount of pre-tax earnings that is required to pay the dividends on outstanding preference securities.
Definition of Equity Investees
Investments that a Company account for using the equity method of accounting
RATIO OF EARNINGS TO FIXED CHARGES (Dollars in Thousands)