Attached files
| file | filename |
|---|---|
| EX-5.1 - EX-5.1 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex5d1.htm |
| EX-8.1 - EX-8.1 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex8d1.htm |
| EX-4.1 - EX-4.1 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex4d1.htm |
| EX-5.2 - EX-5.2 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex5d2.htm |
| EX-99.2 - EX-99.2 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex99d2.htm |
| EX-99.1 - EX-99.1 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex99d1.htm |
| 8-K - 8-K - HEALTHPEAK PROPERTIES, INC. | a12-16445_48k.htm |
| EX-1.1 - EX-1.1 - HEALTHPEAK PROPERTIES, INC. | a12-16445_4ex1d1.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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Three Months |
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Ended |
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Year Ended December 31, |
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March 31, 2012 |
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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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(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 |
|
104,568 |
|
419,336 |
|
288,657 |
|
298,898 |
|
349,313 |
|
358,834 |
|
|
Rental expense |
|
1,640 |
|
6,186 |
|
5,939 |
|
6,039 |
|
6,008 |
|
8,151 |
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Capitalized interest |
|
6,683 |
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26,402 |
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21,664 |
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25,917 |
|
27,490 |
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12,346 |
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Fixed charges |
|
112,891 |
|
451,924 |
|
316,260 |
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330,854 |
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382,811 |
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379,331 |
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Earnings: |
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Income before income taxes and equity income from and impairments of investments in unconsolidated JVs |
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179,187 |
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504,831 |
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388,054 |
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101,044 |
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228,887 |
|
126,835 |
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Add back: Fixed charges |
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112,891 |
|
451,924 |
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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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Add: Distributed income from equity investees |
|
913 |
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3,273 |
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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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Less: Capitalized interest |
|
(6,683 |
) |
(26,402 |
) |
(21,664 |
) |
(25,917 |
) |
(27,490 |
) |
(12,346 |
) |
|
Less: Noncontrolling interest from subsidiaries without fixed charges |
|
(3,462 |
) |
(16,466 |
) |
(15,517 |
) |
(13,049 |
) |
(17,996 |
) |
(20,110 |
) |
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Earnings |
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282,846 |
|
917,160 |
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672,506 |
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400,205 |
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572,957 |
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478,974 |
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Ratio of Earnings to Fixed Charges |
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2.51 |
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2.03 |
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2.13 |
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1.21 |
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1.50 |
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1.26 |
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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 |
|
104,568 |
|
419,336 |
|
288,657 |
|
298,898 |
|
349,313 |
|
358,834 |
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Preferred stock dividends |
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17,006 |
|
21,130 |
|
21,130 |
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21,130 |
|
21,130 |
|
21,130 |
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Rental expense |
|
1,640 |
|
6,186 |
|
5,939 |
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6,039 |
|
6,008 |
|
8,151 |
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Capitalized interest |
|
6,683 |
|
26,402 |
|
21,664 |
|
25,917 |
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27,490 |
|
12,346 |
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Fixed charges |
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129,897 |
|
473,054 |
|
337,390 |
|
351,984 |
|
403,941 |
|
400,461 |
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Earnings (see above) |
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282,846 |
|
917,160 |
|
672,506 |
|
400,205 |
|
572,957 |
|
478,974 |
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Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
|
2.18 |
|
1.94 |
|
1.99 |
|
1.14 |
|
1.42 |
|
1.20 |
|