Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ASHFORD HOSPITALITY TRUST INC | d84913e8vk.htm |
| EX-1 - EX-1 - ASHFORD HOSPITALITY TRUST INC | d84913exv1.htm |
| EX-4 - EX-4 - ASHFORD HOSPITALITY TRUST INC | d84913exv4.htm |
| EX-5 - EX-5 - ASHFORD HOSPITALITY TRUST INC | d84913exv5.htm |
| EX-10 - EX-10 - ASHFORD HOSPITALITY TRUST INC | d84913exv10.htm |
Exhibit 12
ASHFORD HOSPITALITY TRUST, INC.
FIXED CHARGE RATIO
(dollars in thousands)
FIXED CHARGE RATIO
(dollars in thousands)
| Six Months | ||||||||||||||||||||||||
| Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Earnings |
||||||||||||||||||||||||
Income (loss) from continuing operations before provision for income taxes
and redeemable noncontrolling interests |
$ | 41,768 | $ | (71,458 | ) | $ | (186,885 | ) | $ | 98,689 | $ | 4,853 | $ | 30,314 | ||||||||||
Amount recorded for (income) loss in unconsolidated joint venture |
(25,824 | ) | 20,265 | (2,486 | ) | 2,205 | — | — | ||||||||||||||||
Add: |
||||||||||||||||||||||||
Distributions from equity investment in
joint venture |
— | 492 | 873 | 1,800 | — | — | ||||||||||||||||||
Interest on indebtedness |
67,682 | 143,264 | 139,390 | 153,116 | 148,121 | 46,419 | ||||||||||||||||||
Amortization of debt expense and premium |
2,390 | 5,837 | 7,700 | 6,747 | 7,781 | 2,038 | ||||||||||||||||||
Interest component of operating leases |
186 | 525 | 598 | 622 | 524 | 272 | ||||||||||||||||||
| $ | 86,202 | $ | 98,925 | $ | (40,810 | ) | $ | 263,179 | $ | 161,279 | $ | 79,043 | ||||||||||||
Fixed charges |
||||||||||||||||||||||||
Interest on indebtedness |
$ | 67,682 | $ | 143,264 | $ | 139,390 | $ | 153,116 | $ | 148,121 | $ | 46,419 | ||||||||||||
Amortization of debt expense and premium |
2,390 | 5,837 | 7,700 | 6,747 | 7,781 | 2,038 | ||||||||||||||||||
Interest component of operating leases |
186 | 525 | 598 | 622 | 524 | 272 | ||||||||||||||||||
Dividends to Class B unit holders |
1,472 | 2,943 | 2,827 | 2,788 | 2,883 | 1,362 | ||||||||||||||||||
| 71,730 | 152,569 | 150,515 | 163,273 | 159,309 | 50,091 | |||||||||||||||||||
Preferred stock dividends |
||||||||||||||||||||||||
Preferred Series A |
1,590 | 3,180 | 3,180 | 4,855 | 4,916 | 4,916 | ||||||||||||||||||
Preferred Series B-1 |
1,364 | 4,143 | 4,171 | 5,735 | 6,256 | 5,958 | ||||||||||||||||||
Preferred Series C |
— | — | — | — | 5,166 | — | ||||||||||||||||||
Preferred Series D |
9,471 | 13,871 | 11,971 | 16,052 | 7,652 | — | ||||||||||||||||||
Preferred Series E |
1,528 | — | — | — | — | — | ||||||||||||||||||
| 13,953 | 21,194 | 19,322 | 26,642 | 23,990 | 10,874 | |||||||||||||||||||
Combined fixed charges and preferred stock dividends |
$ | 85,683 | $ | 173,763 | $ | 169,837 | $ | 189,915 | $ | 183,299 | $ | 60,965 | ||||||||||||
Ratio of earnings to fixed charges |
1.20 | 0.65 | (0.27 | ) | 1.61 | 1.01 | 1.58 | |||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends |
1.01 | 0.57 | (0.24 | ) | 1.39 | 0.88 | 1.30 | |||||||||||||||||
Deficit (Combined fixed charges and preferred stock dividends) |
$ | — | $ | 74,838 | $ | 210,647 | $ | — | $ | 22,020 | $ | — | ||||||||||||
Deficit (Fixed charges) |
$ | — | $ | 53,644 | $ | 191,325 | $ | — | ||||||||||||||||