Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - ACRES Commercial Realty Corp. | a201793010qrso.htm |
| EX-99.2 - EXHIBIT 99.2 - ACRES Commercial Realty Corp. | a201793010qrso-ex992d.htm |
| EX-32.2 - EXHIBIT 32.2 - ACRES Commercial Realty Corp. | a201793010qrso-exhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - ACRES Commercial Realty Corp. | a201793010qrso-exhibit321.htm |
| EX-31.2 - EXHIBIT 31.2 - ACRES Commercial Realty Corp. | a201793010qrso-exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - ACRES Commercial Realty Corp. | a201793010qrso-exhibit311.htm |
Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS
Nine Months Ended | Year Ended | Year Ended | Year Ended | Year Ended | ||||||||||||||||
September 30, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
(unaudited) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Pretax income before preferred shared from continuing operations | $ | 52,426,285 | $ | (343,321 | ) | $ | 12,433,855 | $ | 57,717,463 | $ | 45,636,957 | |||||||||
Non-controlling interest | (195,573 | ) | (229,547 | ) | 6,627,890 | 965,007 | — | |||||||||||||
Equity in earnings of unconsolidated subsidiaries | (40,718,018 | ) | (5,973,088 | ) | (2,388,038 | ) | (4,766,980 | ) | (949,180 | ) | ||||||||||
Cash income received from unconsolidated entities | 49,713,376 | 1,869,247 | 2,963,499 | 1,163,805 | — | |||||||||||||||
Fixed charges | 42,285,192 | 53,765,276 | 56,568,114 | 43,528,402 | 60,957,469 | |||||||||||||||
Total | $ | 103,511.262 | $ | 49,088.567 | $ | 76,205.32 | $ | 98,607.697 | $ | 105,645.246 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest (expensed and capitalized) | $ | 34,409,633 | $ | 45,223,899 | $ | 48,186,795 | $ | 36,729,426 | $ | 52,298,502 | ||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 8,044,212 | 8,523,738 | 8,343,513 | 6,763,854 | 8,629,755 | |||||||||||||||
Estimate of interest within rental expenses | 31,346 | 17,639 | 37,806 | 35,122 | 29,212 | |||||||||||||||
Total | $ | 42,485.191 | $ | 53,765.276 | $ | 56,568.114 | $ | 43,528.402 | $ | 60,957.469 | ||||||||||
Preferred stock dividend | $ | 18,043,020 | $ | 24,091,021 | $ | 24,437,458 | $ | 17,175,869 | $ | 7,221,041 | ||||||||||
Ratio of earnings to combined fixed charges | 2.44 | — | (2) | 1.35 | 2.27 | 1.73 | ||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.71 | — | (3) | — | (3) | 1.62 | 1.55 | |||||||||||||
(1) | The Company did not have any shares of preferred stock outstanding until June 2012 and paid its first preferred stock dividend in July 2012. |
(2) | The dollar amount of the deficiency for the year ended December 31, 2016 was $4.7 million. |
(3) | The dollar amount of the deficiency for the year ended December 31, 2016 and 2015 was $28.8 million and $4.8 million, respectively. |