Three months ended
March 31,

2017

Pre-tax income from continuing operations before adjustment for income or loss from equity investees

$

22,608

Add:

Fixed charges (see below)

37,179

Amortization of capitalized interest

—

Distributed income of equity investees

—

Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges

—

59,787

Less:

Capitalized interest

—

Preference security dividend requirements of consolidated subsidiaries

—

Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges

—

Adjusted earnings

$

59,787

Fixed charges:

Interest expensed and capitalized

$

33,291

Amortized premiums, discounts and capitalized expenses related to indebtedness

3,888

Estimated interest within rental expense

—

Preference security dividend requirements of consolidated subsidiaries

—

Total fixed charges

37,179

Preferred share distributions(1)

571

Combined fixed charges and preferred share distributions

$

37,750

Ratio of earnings to fixed charges

1.6

Ratio of earnings to fixed charges and preferred share distributions(1)

1.6