Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - Summit Hotel Properties, Inc. | a12-31x2016exhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - Summit Hotel Properties, Inc. | a12-31x2016exhibit321.htm |
| EX-31.2 - EXHIBIT 31.2 - Summit Hotel Properties, Inc. | a12-31x2016exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - Summit Hotel Properties, Inc. | a12-31x2016exhibit311.htm |
| EX-23.1 - EXHIBIT 23.1 - Summit Hotel Properties, Inc. | a12-31x2016exhibit231.htm |
| EX-21.1 - EXHIBIT 21.1 - Summit Hotel Properties, Inc. | a12-31x2016exhibit211.htm |
| 10-K - 10-K - Summit Hotel Properties, Inc. | a12312016-10kxdocument.htm |
Exhibit 12.1
Summit Hotel Properties, Inc.
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(Dollars in Thousands)
For the Years Ended December 31, | |||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||
Earnings | |||||||||||||||||||||
Pre-tax income (loss) from continuing operations | $ | 106,811 | $ | 125,809 | $ | 21,175 | $ | 11,519 | $ | (7,675 | ) | ||||||||||
Interest expense | 25,948 | 28,691 | 26,968 | 20,137 | 14,909 | ||||||||||||||||
Amortization of financing costs | 2,143 | 1,723 | 1,549 | 1,854 | 2,288 | ||||||||||||||||
Amortization of capitalized interest | 266 | 348 | 463 | 581 | 599 | ||||||||||||||||
Total Earnings | $ | 135,168 | $ | 156,571 | $ | 50,155 | $ | 34,091 | $ | 10,121 | |||||||||||
Fixed Charges | |||||||||||||||||||||
Interest expense | $ | 25,948 | $ | 28,691 | $ | 26,968 | $ | 20,137 | $ | 14,909 | |||||||||||
Capitalized interest | — | 75 | 253 | 453 | 53 | ||||||||||||||||
Amortization of financing costs | 2,143 | 1,723 | 1,549 | 1,854 | 2,288 | ||||||||||||||||
Total Fixed Charges | $ | 28,091 | $ | 30,489 | $ | 28,770 | $ | 22,444 | $ | 17,250 | |||||||||||
Preferred Dividends | $ | 18,232 | $ | 16,588 | $ | 16,588 | $ | 14,590 | $ | 4,625 | |||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 2.92 | (1) | 3.33 | (2) | 1.11 | (3) | 0.92 | (4) | 0.46 | (5) | |||||||||||
(1) Earnings were more than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $46.3 million and the total amount of earnings was approximately $135.2 million. The amount of the adequacy, or the amount of earnings in excess of fixed charges and preferred stock dividends, was approximately $88.8 million.
(2) Earnings were more than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $47.1 million and the total amount of earnings was approximately $156.6 million. The amount of the adequacy, or the amount of earnings in excess of fixed charges and preferred stock dividends, was approximately $109.5 million.
(3) Earnings were more than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $45.4 million and the total amount of earnings was approximately $50.2 million. The amount of the adequacy, or the amount of earnings in excess of fixed charges and preferred stock dividends, was approximately $4.8 million.
(4) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $37.0 million and the total amount of earnings was approximately $34.1 million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $2.9 million.
(5) Earnings were less than fixed charges and preferred stock dividends. The total amount of fixed charges and preferred stock dividends for this period was approximately $21.9 million and the total amount of earnings was approximately $10.1 million. The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $11.8 million.