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EX-32.2 - EXHIBIT 32.2 - ASHFORD HOSPITALITY TRUST INCaht2017q310-qxex322.htm
10-Q - 10-Q - ASHFORD HOSPITALITY TRUST INCaht2017q310q.htm
EX-32.1 - EXHIBIT 32.1 - ASHFORD HOSPITALITY TRUST INCaht2017q310-qxex321.htm
EX-31.2 - EXHIBIT 31.2 - ASHFORD HOSPITALITY TRUST INCaht2017q310-qxex312.htm
EX-31.1 - EXHIBIT 31.1 - ASHFORD HOSPITALITY TRUST INCaht2017q310-qxex311.htm



EXHIBIT 12

ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)

 
Nine Months Ended
 
Year Ended December 31,
 
September 30, 2017
 
2016
 
2015
 
2014
 
2013
 
2012
 Earnings
 
 
 
 
 
 
 
 
 
 
 
 Income (loss) from continuing operations before provision for income taxes and redeemable noncontrolling interests
$
(50,742
)
 
$
(57,250
)
 
$
310,523

 
$
(40,465
)
 
$
(46,949
)
 
$
(56,385
)
 Amount recorded for equity in (earnings) loss of unconsolidated entities
3,580

 
6,110

 
6,831

 
(2,495
)
 
23,404

 
20,833

 Add:
 
 
 
 
 
 
 
 
 
 
 
Distributions of earnings from unconsolidated entities

 

 
996

 
995

 

 

Interest on indebtedness, net of premiums
156,303

 
199,870

 
168,834

 
107,598

 
133,697

 
140,066

Amortization of loan costs
10,921

 
24,097

 
18,680

 
7,237

 
7,772

 
6,194

Interest component of operating leases
203

 
343

 
288

 
115

 
341

 
354

 
$
120,265

 
$
173,170

 
$
506,152

 
$
72,985

 
$
118,265

 
$
111,062

 
 
 
 
 
 
 
 
 
 
 
 
 Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 Interest on indebtedness, net of premiums
$
156,303

 
$
199,870

 
$
168,834

 
$
107,598

 
$
133,697

 
$
140,066

 Amortization of loan costs
10,921

 
24,097

 
18,680

 
7,237

 
7,772

 
6,194

 Interest component of operating leases
203

 
343

 
288

 
115

 
341

 
354

 Dividends to Class B unit holders

 
2,110

 
2,813

 
2,879

 
2,943

 
2,943

 
$
167,427

 
$
226,420

 
$
190,615

 
$
117,829

 
$
144,753

 
$
149,557

 Preferred stock dividends
 
 
 
 
 
 
 
 
 
 
 
 Preferred Series A
$
2,539

 
$
3,542

 
$
3,542

 
$
3,542

 
$
3,542

 
$
3,516

 Preferred Series D
14,891

 
20,002

 
20,002

 
20,002

 
20,002

 
19,869

 Preferred Series E

 
6,280

 
10,418

 
10,418

 
10,418

 
10,417

 Preferred Series F
6,637

 
4,130

 

 

 

 

 Preferred Series G
8,573

 
2,318

 

 

 

 

 Preferred Series H
712

 

 

 

 

 

 
$
33,352

 
$
36,272

 
$
33,962

 
$
33,962

 
$
33,962

 
$
33,802

 
 
 
 
 
 
 
 
 
 
 
 
 Combined fixed charges and preferred stock dividends
$
200,779

 
$
262,692

 
$
224,577

 
$
151,791

 
$
178,715

 
$
183,359

 
 
 
 
 
 
 
 
 
 
 
 
 Ratio of earnings to fixed charges
 
 

 
2.66

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Ratio of earnings to combined fixed charges and preferred stock dividends
 
 

 
2.25

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Deficit (Fixed charges)
$
47,162

 
$
53,250

 


 
$
44,844

 
$
26,488

 
$
38,495

 
 
 
 
 
 
 
 
 
 
 
 
 Deficit (Combined fixed charges and preferred stock dividends)
$
80,514

 
$
89,522

 


 
$
78,806

 
$
60,450

 
$
72,297