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EX-31.1 - SECTION 302 CEO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3112016q1.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3222016q1.htm
EX-10.2 - FORM OF AMENDED AND RESTATED GUARANTY OF LEASE - Sabra Health Care REIT, Inc.ex102form_ofxamendedxandxr.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3122016q1.htm
10-Q - 10-Q - Sabra Health Care REIT, Inc.sbra10q2016q1.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3212016q1.htm
Exhibit 12.1



SABRA HEALTH CARE REIT, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)

 
 
 
Three Months Ended March 31,
 
 
 
2016
 
2015
 
 
 
 
 
 
Earnings
 
 
 
 
 
Pre-tax net (loss) income
 
$
(15,743
)
 
$
19,439

 
Add:
 
 
 
 
 
Fixed charges
 
16,932

 
13,888

 
Noncontrolling interest
 
32

 
11

Earnings, as adjusted
 
$
1,221

 
$
33,338

 
 
 
 
 
 
Fixed charges
 
 
 
 
 
Interest expensed and capitalized
 
$
15,670

 
$
12,594

 
Amortized premiums, discounts and capitalized expenses related to indebtedness
 
1,248

 
1,286

 
Estimate of interest within rental expense
 
14

 
8

Fixed charges, as adjusted
 
16,932

 
13,888

Preferred stock dividends
 
2,561

 
2,561

Combined fixed charges and preferred stock dividends
 
$
19,493

 
$
16,449

 
 
 
 
 
 
Ratio of earnings to fixed charges (1)
 
0.07
x
 
2.40
x
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred stock dividends (1)
 
0.06
x
 
2.03
x

(1) The ratio coverages during the three months ended March 31, 2016 were less than 1:1. In order to achieve a fixed charges and combined fixed charges and preferred stock dividend coverage of 1:1, the registrant would have needed to generate additional earnings of $15.7 million and $18.3 million, respectively, during the three months ended March 31, 2016.