Attached files
Exhibit 12.01
Arlington Asset Investment Corp.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
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Three Months Ended
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Year Ended December 31,
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March 31, 2011
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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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Pre-tax income (loss) from continuing operations adjusted to exclude income or loss from equity investees
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$ | 20,341 | $ | 27,087 | $ | 140,981 | $ | (303,203 | ) | $ | (660,724 | ) | $ | (74,863 | ) | |||||||||
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Distributed income of equity investees
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41 | 222 | 326 | 7,355 | 1,933 | 13,821 | ||||||||||||||||||
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Fixed charges:
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Interest expense and amortization of debt discount and premium on all indebtedness
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432 | 1,155 | 3,645 | 72,751 | 472,100 | 557,257 | ||||||||||||||||||
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Rentals
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13 | 54 | 77 | 251 | 2,316 | 3,071 | ||||||||||||||||||
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Total fixed charges
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$ | 445 | $ | 1,209 | $ | 3,722 | $ | 73,002 | $ | 474,416 | $ | 560,328 | ||||||||||||
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Pre-tax income (loss) from continuing operations adjusted to exclude income or loss from equity investees plus fixed charges and distributed income of equity investees
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$ | 20,827 | $ | 28,518 | $ | 145,029 | $ | (222,846 | ) | $ | (184,375 | ) | $ | 499,286 | ||||||||||
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Ratio of earnings to fixed charges
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46.8 | 23.6 | 39.0 |
(A)
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(A)
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(A)
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(A) Due to the Company's losses in 2008, 2007 and 2006, the ratio coverage in these years was less than 1:1. The Company would have had to generate additional earnings of $295,848, $658,791 and $61,042, respectively, to achieve coverage of 1:1 in those years.