Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Colony Capital, Inc. | d380009d8k.htm |
| EX-3.1 - ARTICLES SUPPLEMENTARY - Colony Capital, Inc. | d380009dex31.htm |
| EX-5.1 - OPINION OF HOGAN LOVELLS US LLP - Colony Capital, Inc. | d380009dex51.htm |
| EX-1.1 - UNDERWRITING AGREEMENT - Colony Capital, Inc. | d380009dex11.htm |
Exhibit 12.1
COLONY FINANCIAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
| Three Months Ended March 31, |
Year Ended December 31, | Period from June 23, 2009 (Date of Inception) to |
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| 2012 | 2011 | 2010 | December 31, 2009 | |||||||||||||
| Earnings |
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| Loss before income taxes before adjustment for noncontrolling interest and income from equity investees |
$ | (2,300 | ) | $ | (2,356 | ) | $ | (6,516 | ) | $ | (1,610 | ) | ||||
| Add: |
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| Fixed charges |
1,494 | 3,011 | 555 | — | ||||||||||||
| Distributed income of equity investees |
16,192 | 25,959 | 16,296 | — | ||||||||||||
| Subtract: |
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| Noncontrolling interest in pre-tax earnings of consolidated subsidiaries with no fixed charges |
(307 | ) | (1,095 | ) | (22 | ) | (2 | ) | ||||||||
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| Earnings (loss) |
$ | 15,079 | $ | 25,519 | $ | 10,313 | $ | (1,612 | ) | |||||||
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| Fixed Charges |
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| Interest expense |
$ | 1,494 | $ | 3,011 | $ | 555 | — | |||||||||
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| Total fixed charges |
$ | 1,494 | $ | 3,011 | $ | 555 | $ | — | ||||||||
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| Preferred Dividends |
$ | 376 | $ | — | $ | — | $ | — | ||||||||
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| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
8.1 | x | 8.5 | x | 18.6 | x | N/A | (1) | ||||||||
| (1) | The Company did not have any fixed charges in the period presented. |
COLONY FINANCIAL, INC.
COMPUTATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
| Pro Forma for the Three Ended March 31, 2012 |
Pro Forma for the Year Ended December 31, 2011 |
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| Earnings |
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| Loss before income taxes before adjustment for noncontrolling interest and income from equity investees |
$ | (1,684 | ) | $ | (1,841 | ) | ||
| Add: |
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| Fixed charges |
878 | 2,496 | ||||||
| Distributed income of equity investees |
16,192 | 25,959 | ||||||
| Subtract: |
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| Noncontrolling interest in pre-tax earnings of consolidated subsidiaries with no fixed charges |
(307 | ) | (1,095 | ) | ||||
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| Earnings |
$ | 15,079 | $ | 25,519 | ||||
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| Fixed Charges |
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| Interest expense |
$ | 878 | $ | 2,496 | ||||
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| Total fixed charges |
$ | 878 | $ | 2,496 | ||||
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| Preferred Dividends |
$ | 2,501 | $ | 8,500 | ||||
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| Pro Forma Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
4.5 | x | 2.3 | x | ||||
In calculating the pro forma ratio of earnings to combined fixed charges and preferred stock dividends, we have assumed that the shares of Series A Preferred Stock offered by this prospectus supplement were issued on the first day of the applicable period. For purposes of this pro forma calculation, we have assumed the repayment of $98.8 million of outstanding borrowings under our revolving credit facility (approximately $40.5 million as of the date of this prospectus supplement) with the net proceeds from this offering; therefore, the pro forma ratio excludes the effect of the amount of the related interest expense for each applicable period.