Attached files

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EX-32.01 - EX-32.01 - Arlington Asset Investment Corp.ai-ex3201_9.htm
10-Q - FORM 10-Q - Arlington Asset Investment Corp.ai-10q_20160930.htm
EX-32.02 - EX-32.02 - Arlington Asset Investment Corp.ai-ex3202_10.htm
EX-31.02 - EX-31.02 - Arlington Asset Investment Corp.ai-ex3102_6.htm
EX-31.01 - EX-31.01 - Arlington Asset Investment Corp.ai-ex3101_7.htm

Exhibit 12.01

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

Pre-tax income (loss) from continuing operations

   adjusted to exclude income or loss from equity

   investees

 

$

4,583

 

 

$

(32,403

)

 

$

55,189

 

 

$

14,253

 

 

$

30,788

 

 

$

16,753

 

Distributed income of equity investees

 

 

809

 

 

 

1,628

 

 

 

413

 

 

 

90

 

 

 

384

 

 

 

266

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense and amortization of debt discount

   and premium on all indebtedness

 

 

20,786

 

 

 

18,889

 

 

 

11,391

 

 

 

8,529

 

 

 

4,965

 

 

 

2,508

 

Rentals

 

 

66

 

 

 

92

 

 

 

83

 

 

 

81

 

 

 

88

 

 

 

58

 

Total fixed charges

 

$

20,852

 

 

$

18,981

 

 

$

11,474

 

 

$

8,610

 

 

$

5,053

 

 

$

2,566

 

Pre-tax income (loss) from continuing operations

   adjusted to exclude income or loss from equity

   investees plus fixed charges and distributed income

   of equity investees

 

$

26,244

 

 

$

(11,794

)

 

$

67,076

 

 

$

22,953

 

 

$

36,225

 

 

$

19,585

 

Ratio of earnings to fixed charges

 

 

1.3

 

 

(A)

 

 

 

5.8

 

 

 

2.7

 

 

 

7.2

 

 

 

7.6

 

 

(A)

Due to the Company’s loss for the year ended December 31, 2015, the ratio coverage in that period was less than 1:1. The Company would have had to generate additional earnings of $30,775 for the year ended December 31, 2015 to achieve coverage of 1:1 in those periods.