Attached files

file filename
EX-32.1 - EXHIBIT 32.1 - NEW YORK MORTGAGE TRUST INCex321march17.htm
EX-31.2 - EXHIBIT 31.2 - NEW YORK MORTGAGE TRUST INCex312march17.htm
EX-31.1 - EXHIBIT 31.1 - NEW YORK MORTGAGE TRUST INCex311march17.htm
EX-10.2 - EXHIBIT 10.2 - NEW YORK MORTGAGE TRUST INCex102march2017.htm
10-Q - 10-Q - NEW YORK MORTGAGE TRUST INCnymt-03312017x10q.htm
Exhibit 12.1

 Ratio of Earnings to Fixed Charges
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(dollars in thousands)


 
For the Three Months Ended March 31,
 
For the Years Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
Pretax income from operations
$
20,419

 
$
70,655

 
$
82,548

 
$
142,586

 
$
69,694

Fixed charges (1)
10,535

 
32,115

 
27,680

 
25,094

 
20,949

Income from unconsolidated entities
(2,725
)
 
(13,055
)
 
(7,865
)
 
(4,562
)
 
(2,297
)
Distributions of income from unconsolidated entities
415

 
7,509

 
5,392

 
2,238

 
2,112

Noncontrolling interest

 
(9
)
 

 

 

Total Earnings
$
28,644

 
$
97,215

 
$
107,755

 
$
165,356

 
$
90,458

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense (1)
$
10,535

 
$
32,115

 
$
27,680

 
$
25,094

 
$
20,949

Total Fixed Charges
10,535

 
32,115

 
27,680

 
25,094

 
20,949

Preferred stock dividends
3,225

 
12,900

 
10,990

 
5,812

 
3,568

Total Combined Fixed Charges and Preferred Stock Dividends
$
13,760

 
$
45,015

 
$
38,670

 
$
30,906

 
$
24,517

Ratio of earnings to fixed charges
2.72

 
3.03

 
3.89

 
6.59

 
4.32

Ratio of earnings to combined fixed charges and preferred stock dividends
2.08

 
2.16

 
2.79

 
5.35

 
3.69

Deficiency related to ratio of earnings to fixed charges
NA

 
NA

 
NA

 
NA

 
NA

Deficiency related to ratio of earnings to combined fixed charges and preferred stock dividends
NA

 
NA

 
NA

 
NA

 
NA



(1) 
Excludes interest expense on multi-family collateralized debt obligations of the Consolidated K-Series, which we are required to consolidate in our financial statements under generally accepted accounting principles. We do not have any claims to the assets (other than the securities represented by our first loss pieces) or obligations for the liabilities of the Consolidated K-Series.