Attached files
file | filename |
---|---|
EX-99.1 - EX-99.1 - Sunstone Hotel Investors, Inc. | sho-20171231ex99187fe3a.htm |
EX-32.1 - EX-32.1 - Sunstone Hotel Investors, Inc. | sho-20171231ex3216c416c.htm |
EX-31.2 - EX-31.2 - Sunstone Hotel Investors, Inc. | sho-20171231ex312e5f584.htm |
EX-31.1 - EX-31.1 - Sunstone Hotel Investors, Inc. | sho-20171231ex3112ba690.htm |
EX-23.1 - EX-23.1 - Sunstone Hotel Investors, Inc. | sho-20171231ex231fbe517.htm |
EX-21.1 - EX-21.1 - Sunstone Hotel Investors, Inc. | sho-20171231ex2117a2b7d.htm |
10-K - 10-K - Sunstone Hotel Investors, Inc. | sho-20171231x10k.htm |
Exhibit 12
Sunstone Hotel Investors, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(in thousands, except ratio amounts)
|
|
Year Ended |
|
Year Ended |
|
Year Ended |
|
Year Ended |
|
Year Ended |
||||||||||
|
|
December 31, |
|
December 31, |
|
December 31, |
|
December 31, |
|
December 31, |
||||||||||
|
|
2017 |
|
2016 |
|
2015 |
|
2014 |
|
2013 |
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Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Income from continuing operations |
|
$ |
146,004 |
|
$ |
140,677 |
|
$ |
339,624 |
|
$ |
83,090 |
|
$ |
21,591 |
|||||
Continuing operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Interest expense and amortization of deferred financing fees |
|
|
51,766 |
|
|
50,283 |
|
|
66,516 |
|
|
72,315 |
|
|
72,239 |
|||||
Interest portion of rental expense |
|
|
3,370 |
|
|
4,321 |
|
|
5,589 |
|
|
5,984 |
|
|
6,475 |
|||||
Discontinued operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Interest expense and amortization of deferred financing fees |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
99 |
|||||
Total earnings |
|
$ |
201,140 |
|
$ |
195,281 |
|
$ |
411,729 |
|
$ |
161,389 |
|
$ |
100,404 |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Combined Fixed Charges and Preferred Stock Dividends: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Continuing operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Interest expense and amortization of deferred financing fees |
|
$ |
51,766 |
|
$ |
50,283 |
|
$ |
66,516 |
|
$ |
72,315 |
|
$ |
72,239 |
|||||
Interest portion of rental expense |
|
|
3,370 |
|
|
4,321 |
|
|
5,589 |
|
|
5,984 |
|
|
6,475 |
|||||
Preferred dividends |
|
|
12,830 |
|
|
15,964 |
|
|
9,200 |
|
|
9,200 |
|
|
19,013 |
|||||
Discontinued operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Interest expense and amortization of deferred financing fees |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
99 |
|||||
Total combined fixed charges and preferred stock dividends |
|
$ |
67,966 |
|
$ |
70,568 |
|
$ |
81,305 |
|
$ |
87,499 |
|
$ |
97,826 |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Ratio of earnings to combined fixed charges and preferred stock dividends |
|
|
2.96 |
|
|
2.77 |
|
|
5.06 |
|
|
1.84 |
|
|
1.03 |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Deficiency of earnings to combined fixed charges and preferred stock dividends |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |