Armour Residential REIT, Inc. - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 15, 2017

Attached files

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EX-21.1 - EXHIBIT 21.1 - Armour Residential REIT, Inc.significantsubsidiariesex2.htm
EX-10.5 - EXHIBIT 10.5 - Armour Residential REIT, Inc.exhibit105amendedmanagemen.htm
EX-32.3 - EXHIBIT 32.3 - Armour Residential REIT, Inc.arr-q42016xex323jmountain.htm
EX-32.2 - EXHIBIT 32.2 - Armour Residential REIT, Inc.arr-q42016xex322jzimmer.htm
EX-32.1 - EXHIBIT 32.1 - Armour Residential REIT, Inc.arr-q42016xex321sulm.htm
EX-31.3 - EXHIBIT 31.3 - Armour Residential REIT, Inc.arr-q42016xex313jmountain.htm
EX-31.2 - EXHIBIT 31.2 - Armour Residential REIT, Inc.arr-q42016xex312jzimmer.htm
EX-31.1 - EXHIBIT 31.1 - Armour Residential REIT, Inc.arr-q42016xex311sulm.htm
EX-23.1 - EXHIBIT 23.1 - Armour Residential REIT, Inc.arr-q42016xex231consent.htm
10-K - 10-K - Armour Residential REIT, Inc.arr-12312016x10k.htm


EXHIBIT 12.1
 
RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (UNAUDITED)

 
 
For the Years Ended
 
 
December 31, 2016
 
December 31, 2015
 
December 31, 2014
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Income (loss) before taxes
 
$
(45,517
)
 
$(31,205)
 
$(179,048)
 
$(187,054)
 
$222,282
Fixed charges (interest expense)
 
$
73,107

 
$59,278
 
$65,113
 
$84,550
 
$61,195
Earnings adjusted
 
$
27,590

 
$28,073
 
$(113,935)
 
$(102,504)
 
$283,477
Ratio of earnings to fixed charges
 
0.38

 
0.47
 
(1.75)
 
(1.21)
 
4.63
Deficiency
 
$
45,517

 
$31,205
 
$179,048
 
$187,054
 
$—
Preferred stock dividends
 
$
15,622

 
$15,622
 
$15,620
 
$14,213
 
$1,964
Combined fixed charges and preferred stock dividends
 
$
88,729

 
$74,900
 
$80,733
 
$98,763
 
$63,159
Ratio of earnings to combined fixed charges and preferred stock dividends.
 
0.31

 
0.37
 
(1.41)
 
(1.04)
 
4.49
Deficiency
 
$
61,139

 
$46,827
 
$194,668
 
$201,267
 
$—




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