Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - STARWOOD PROPERTY TRUST, INC. | a17-26315_2ex99d1.htm |
| EX-12.2 - EX-12.2 - STARWOOD PROPERTY TRUST, INC. | a17-26315_2ex12d2.htm |
| 8-K - 8-K - STARWOOD PROPERTY TRUST, INC. | a17-26315_28k.htm |
Starwood Property Trust, Inc.
Statement of Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
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For the |
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For the Year Ended December 31, |
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2017 |
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2016 |
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2015 |
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2014 |
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2013 |
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2012 |
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Fixed Charges |
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Interest expense |
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$ |
199,177 |
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$ |
214,622 |
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$ |
188,376 |
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$ |
149,315 |
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$ |
101,870 |
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$ |
41,456 |
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Interest capitalized |
|
— |
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— |
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— |
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— |
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— |
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— |
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Amortization of premiums and discounts |
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— |
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— |
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— |
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— |
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— |
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— |
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Amortization of capitalized expenses relating to debt |
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14,431 |
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16,177 |
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14,174 |
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11,789 |
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9,933 |
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5,669 |
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Interest within rental expense |
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— |
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— |
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— |
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— |
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— |
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— |
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Preferred security dividend requirements in consolidated subsidiaries |
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— |
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— |
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— |
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— |
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— |
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— |
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Total fixed charges |
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$ |
213,608 |
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$ |
230,799 |
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$ |
202,550 |
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$ |
161,104 |
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$ |
111,803 |
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$ |
47,125 |
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Earnings |
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Pre-tax income from continuing operations before equity investees |
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$ |
310,173 |
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$ |
355,727 |
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$ |
428,712 |
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$ |
485,874 |
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$ |
322,787 |
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$ |
202,298 |
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Add: |
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Fixed charges |
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213,608 |
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230,799 |
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202,550 |
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161,104 |
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111,803 |
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47,125 |
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Amortization of capitalized interest |
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— |
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— |
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— |
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— |
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— |
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— |
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Distributed income of equity investees |
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3,952 |
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18,528 |
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19,879 |
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11,528 |
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5,304 |
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1,692 |
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Income from equity investees arising from guarantees |
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— |
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— |
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— |
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— |
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— |
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— |
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Less: |
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Interest capitalized |
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— |
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— |
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— |
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— |
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— |
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— |
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Preference security dividend requirements of consolidated subsidiaries |
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— |
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— |
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— |
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— |
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— |
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— |
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The non-controlling interest in pre-tax subsidiaries that have not incurred fixed charges |
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10,720 |
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2,465 |
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1,486 |
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5,517 |
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5,300 |
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2,487 |
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Earnings |
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$ |
517,013 |
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$ |
602,589 |
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$ |
649,655 |
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$ |
652,989 |
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$ |
434,594 |
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$ |
248,628 |
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Ratio of Earnings to Fixed Charges |
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2.42 |
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2.61 |
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3.21 |
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4.05 |
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3.89 |
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5.28 |
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