Attached files
Exhibit 12.1
Hersha Hospitality Trust
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Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends
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(dollars in thousands)
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Year Ended December 31,
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2010
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2009
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2008
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2007
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2006
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Earnings
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Pre-tax (loss) income from continuing operations before income (loss) from equity investees
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$ | (19,930 | ) | $ | (53,576 | ) | $ | (13,004 | ) | $ | 11,911 | $ | 2,438 | |||||||
Interest expensed and amortized premiums, discounts and capitalized expenses related to indebtedness
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45,868 | 45,183 | 43,306 | 41,980 | 24,183 | |||||||||||||||
Distributed income of equity investees
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- | 400 | 3,036 | 4,501 | 4,578 | |||||||||||||||
$ | 25,938 | $ | (7,993 | ) | $ | 33,338 | $ | 58,392 | $ | 31,199 | ||||||||||
Combined Fixed Charges and Preferred Share Dividends
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Interest expensed and amortized premiums, discounts and capitalized expenses related to indebtedness
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$ | 45,868 | $ | 45,183 | $ | 43,306 | $ | 41,980 | $ | 24,183 | ||||||||||
Interest capitalized
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46 | 10 | 544 | 389 | - | |||||||||||||||
Preferred share distributions
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4,800 | 4,800 | 4,800 | 4,800 | 4,800 | |||||||||||||||
$ | 50,714 | $ | 49,993 | $ | 48,650 | $ | 47,169 | $ | 28,983 | |||||||||||
Ratio of earnings to combined fixed charges and preferred share dividends
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* | * | * | 1.24 | 1.08 |
* For the year ended December 31, 2010, combined fixed charges and preferred share dividends exceeded earnings by approximately $24,776. For the year ended December 31, 2009, combined fixed charges and preferred share dividends exceeded earnings by approximately $42,000. For the year ended December 31, 2008, combined fixed charges and preferred share dividends exceeded earnings by approximately $15,312.