ASHFORD HOSPITALITY TRUST INC - FORM 10-Q - EX-12 - EXHIBIT 12 - May 11, 2015

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EX-10.1 - EXHIBIT 10.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex101.htm
EX-31.1 - EXHIBIT 31.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex311.htm
EX-10.2 - EXHIBIT 10.2 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex102.htm
EX-10.3 - EXHIBIT 10.3 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex103.htm
EX-10.2.1 - EXHIBIT 10.2.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex1021.htm
EX-10.1.1 - EXHIBIT 10.1.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex1011.htm
EX-10.3.1 - EXHIBIT 10.3.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex1031.htm
EX-10.4.1 - EXHIBIT 10.4.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex1041.htm
EXCEL - IDEA: XBRL DOCUMENT - ASHFORD HOSPITALITY TRUST INCFinancial_Report.xls
EX-32.2 - EXHIBIT 32.2 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex322.htm
EX-31.2 - EXHIBIT 31.2 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex312.htm
10-Q - 10-Q - ASHFORD HOSPITALITY TRUST INCaht2015q110q.htm
EX-32.1 - EXHIBIT 32.1 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex321.htm
EX-10.4 - EXHIBIT 10.4 - ASHFORD HOSPITALITY TRUST INCaht2015q110-qxex104.htm



EXHIBIT 12

ASHFORD HOSPITALITY TRUST, INC.
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
(dollars in thousands)

 
Three Months Ended
 
 Year Ended December 31,
 
March 31, 2015
 
2014
 
2013
 
2012
 
2011
 
2010
 Earnings
 
 
 
 
 
 
 
 
 
 
 
 Income (loss) from continuing operations before provision for income taxes and redeemable noncontrolling interests
$
368,762

 
$
(40,465
)
 
$
(46,949
)
 
$
(56,385
)
 
$
9,039

 
$
(26,914
)
 Amount recorded for (earnings) loss in unconsolidated entities
6,622

 
(2,495
)
 
23,404

 
20,833

 
(14,528
)
 
20,265

 Add:
 
 
 
 
 
 
 
 
 
 
 
 Distributions from equity investment in unconsolidated entities
249

 
995

 
—

 
—

 
—

 
492

 Interest on indebtedness
31,629

 
107,598

 
133,697

 
140,066

 
134,585

 
143,264

 Amortization of debt expense and premium
3,006

 
7,237

 
7,772

 
6,194

 
4,648

 
5,838

 Interest component of operating leases
46

 
115

 
341

 
354

 
385

 
525

 
$
410,314

 
$
72,985

 
$
118,265

 
$
111,062

 
$
134,129

 
$
143,470

 
 
 
 
 
 
 
 
 
 
 
 
 Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 Interest on indebtedness
$
31,629

 
$
107,598

 
$
133,697

 
$
140,066

 
$
134,585

 
$
143,264

 Amortization of debt expense and premium
3,006

 
7,237

 
7,772

 
6,194

 
4,648

 
5,838

 Interest component of operating leases
46

 
115

 
341

 
354

 
385

 
525

 Dividends to Class B unit holders
703

 
2,879

 
2,943

 
2,943

 
2,943

 
2,943

 
$
35,384

 
$
117,829

 
$
144,753

 
$
149,557

 
$
142,561

 
$
152,570

 Preferred stock dividends
 
 
 
 
 
 
 
 
 
 
 
 Preferred Series A
$
886

 
$
3,542

 
$
3,542

 
$
3,516

 
$
3,180

 
$
3,180

 Preferred Series B-1
—

 
—

 
—

 
—

 
1,374

 
4,143

 Preferred Series D
5,000

 
20,002

 
20,002

 
19,869

 
18,940

 
13,871

 Preferred Series E
2,604

 
10,418

 
10,418

 
10,417

 
6,019

 
—

 
$
8,490

 
$
33,962

 
$
33,962

 
$
33,802

 
$
29,513

 
$
21,194

 
 
 
 
 
 
 
 
 
 
 
 
 Combined fixed charges and preferred stock dividends
$
43,874

 
$
151,791

 
$
178,715

 
$
183,359

 
$
172,074

 
$
173,764

 
 
 
 
 
 
 
 
 
 
 
 
 Ratio of earnings to fixed charges
11.60

 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 Ratio of earnings to combined fixed charges and preferred stock dividends
9.35

 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 Deficit (Fixed charges)
 
 
$
44,844

 
$
26,488

 
$
38,495

 
$
8,432

 
$
9,100

 
 
 
 
 
 
 
 
 
 
 
 
 Deficit (Combined fixed charges and preferred stock dividends)
 
 
$
78,806

 
$
60,450

 
$
72,297

 
$
37,945

 
$
30,294

 
 
 
 
 
 
 
 
 
 
 
 


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