Attached files
| file | filename |
|---|---|
| 8-K - 8-K - HEALTHPEAK PROPERTIES, INC. | a12-2787_48k.htm |
| EX-5.1 - EX-5.1 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex5d1.htm |
| EX-8.1 - EX-8.1 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex8d1.htm |
| EX-5.2 - EX-5.2 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex5d2.htm |
| EX-1.1 - EX-1.1 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex1d1.htm |
| EX-4.1 - EX-4.1 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex4d1.htm |
| EX-99.1 - EX-99.1 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex99d1.htm |
| EX-12.2 - EX-12.2 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex12d2.htm |
| EX-99.2 - EX-99.2 - HEALTHPEAK PROPERTIES, INC. | a12-2787_4ex99d2.htm |
Exhibit 12.1
HCP, Inc.
RATIO OF EARNINGS TO FIXED CHARGES
and RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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Nine Months Ended |
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Year ended December 31, |
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September 30, 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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(In thousands, except ratios) |
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RATIO OF EARNINGS TO FIXED CHARGES |
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Fixed Charges: |
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Interest Expense and Debt Amortization: |
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$ |
317,903 |
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$ |
288,657 |
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$ |
298,898 |
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$ |
349,313 |
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$ |
358,834 |
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$ |
213,331 |
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Rental Expense |
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4,686 |
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5,939 |
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6,039 |
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6,008 |
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8,151 |
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4,212 |
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Capitalized Interest |
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19,395 |
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21,664 |
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25,917 |
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27,490 |
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12,346 |
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895 |
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Fixed Charges |
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$ |
341,984 |
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$ |
316,260 |
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$ |
330,854 |
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$ |
382,811 |
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$ |
379,331 |
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$ |
218,438 |
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Earnings: |
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Pretax Income from Continuing Operations before Minority Interest and Income from Equity Investees |
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$ |
451,199 |
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$ |
388,927 |
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$ |
99,581 |
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$ |
225,404 |
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$ |
124,799 |
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$ |
33,208 |
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Add Back Fixed Charges |
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341,984 |
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316,260 |
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330,854 |
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382,811 |
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379,331 |
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218,438 |
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Add Distributed Income from Equity Investees |
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2,462 |
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5,373 |
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7,273 |
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6,745 |
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5,264 |
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8,331 |
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Less Capitalized Interest |
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(19,395 |
) |
(21,664 |
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(25,917 |
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(27,490 |
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(12,346 |
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(895 |
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Less Minority Interest from Subsidiaries without Fixed Charges |
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(9,529 |
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(15,517 |
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(13,049 |
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(17,996 |
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(20,110 |
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(19,895 |
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Total |
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$ |
766,721 |
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$ |
673,379 |
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$ |
398,742 |
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$ |
569,474 |
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$ |
476,938 |
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$ |
239,187 |
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Ratio of Earnings to Fixed Charges |
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2.24 |
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2.13 |
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1.21 |
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1.49 |
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1.26 |
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1.09 |
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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS |
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Fixed Charges: |
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Interest Expense and Debt Amortization: |
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$ |
317,903 |
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$ |
288,657 |
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$ |
298,898 |
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$ |
349,313 |
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$ |
358,834 |
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$ |
213,331 |
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Preferred Stock Dividend |
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15,848 |
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21,130 |
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21,130 |
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21,130 |
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21,130 |
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21,130 |
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Rental Expense |
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4,686 |
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5,939 |
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6,039 |
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6,008 |
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8,151 |
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4,212 |
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Capitalized Interest |
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19,395 |
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21,664 |
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25,917 |
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27,490 |
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12,346 |
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895 |
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Fixed Charges |
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$ |
357,832 |
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$ |
337,390 |
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$ |
351,984 |
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$ |
403,941 |
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$ |
400,461 |
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$ |
239,568 |
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Earnings (see above) |
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$ |
766,721 |
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$ |
673,379 |
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$ |
398,742 |
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$ |
569,474 |
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$ |
476,938 |
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$ |
239,187 |
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Ratio of Earnings to Fixed Charges |
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2.14 |
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2.00 |
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1.13 |
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1.41 |
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1.19 |
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— |
(1) | ||||||
(1) For the Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends for Year Ended December 31, 2006, fixed charges exceeded earnings resulting in a deficiency of $381,000.