Sabra Health Care REIT, Inc. - FORM 10-Q - EX-12.1 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - May 8, 2017

Attached files

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EX-10.6 - FORM OF AMENDED AND RESTATED GUARANTY OF LEASE - Sabra Health Care REIT, Inc.sbraex106genesisguarantyof.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3222017q1.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3212017q1.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3122017q1.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - Sabra Health Care REIT, Inc.sbraex3112017q1.htm
EX-10.7 - FORM OF AMENDMENT TO MASTER AGREEMENT - Sabra Health Care REIT, Inc.sbraex107genesisleaseamend.htm
EX-10.5 - MEMORANDUM OF UNDERSTANDING SALE OR TRANSFER OR ADDITIONAL FACILITIES - Sabra Health Care REIT, Inc.sbraex105mousaletransferof.htm
EX-10.4 - AMENDED AND RESTATED MOU DISPOSITIONS - Sabra Health Care REIT, Inc.sbraex104dispositions.htm
EX-10.3 - AMENDED AND RESTATED MOU SALE - Sabra Health Care REIT, Inc.sbraex103mousale.htm
EX-10.2 - AMENDED AND RESTATED MOU BUY OUT - Sabra Health Care REIT, Inc.sbraex102moubuyout.htm
EX-10.1 - FORM OF AMENDMENT TO MASTER AGREEMENT - Sabra Health Care REIT, Inc.sbraex101genesislease.htm
EX-4.1 - SEVENTH SUPPLEMENTAL INDENTURE - Sabra Health Care REIT, Inc.sbraex41seventhsupplementa.htm
10-Q - 10-Q - Sabra Health Care REIT, Inc.sbra10q2017q1.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,
 
 
 
2017
 
2016
 
 
 
 
 
 
Earnings
 
 
 
 
 
Pre-tax net income (loss)
 
$
18,791

 
$
(15,743
)
 
Add:
 
 
 
 
 
Fixed charges
 
15,804

 
16,932

 
Noncontrolling interest
 
32

 
32

Earnings, as adjusted
 
$
34,627

 
$
1,221

 
 
 
 
 
 
Fixed charges
 
 
 
 
 
Interest expensed and capitalized
 
$
14,483

 
$
15,670

 
Amortized premiums, discounts and capitalized expenses related to indebtedness
 
1,305

 
1,248

 
Estimate of interest within rental expense
 
16

 
14

Fixed charges, as adjusted
 
15,804

 
16,932

Preferred stock dividends
 
2,561

 
2,561

Combined fixed charges and preferred stock dividends
 
$
18,365

 
$
19,493

 
 
 
 
 
 
Ratio of earnings to fixed charges (1)
 
2.19
x
 
0.07
x
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred stock dividends (1)
 
1.89
x
 
0.06
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.


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