Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - WELLTOWER INC. | exhibit3222q18.htm |
| EX-32.1 - EXHIBIT 32.1 - WELLTOWER INC. | exhibit3212q18.htm |
| EX-31.2 - EXHIBIT 31.2 - WELLTOWER INC. | exhibit3122q18.htm |
| EX-31.1 - EXHIBIT 31.1 - WELLTOWER INC. | exhibit3112q18.htm |
| 10-Q - 10-Q - WELLTOWER INC. | a2q1810-q.htm |
EXHIBIT 12 | |||||||||||||||||||||||||||||
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (UNAUDITED) | |||||||||||||||||||||||||||||
Year Ended December 31, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2014 | 2015 | 2016 | 2017 | 2017 | 2018 | ||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for income or loss from equity investees(1) | $ | 102,245 | $ | 384,213 | $ | 636,117 | $ | 709,253 | $ | 299,616 | $ | 275,686 | $ | 278,498 | |||||||||||||||
Fixed charges | 460,918 | 485,762 | 498,253 | 536,607 | 487,752 | 237,689 | 242,732 | ||||||||||||||||||||||
Capitalized interest | (6,700 | ) | (7,150 | ) | (8,670 | ) | (16,943 | ) | (13,489 | ) | (7,488 | ) | (4,436 | ) | |||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 4,142 | 2,427 | 2,586 | 1,681 | 10,359 | 4,626 | 5,895 | ||||||||||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | 6,770 | (147 | ) | (4,799 | ) | (4,267 | ) | (17,839 | ) | (4,156 | ) | (5,373 | ) | ||||||||||||||||
Earnings | $ | 567,375 | $ | 865,105 | $ | 1,123,487 | $ | 1,226,331 | $ | 766,399 | $ | 506,357 | $ | 517,316 | |||||||||||||||
Fixed charges: | |||||||||||||||||||||||||||||
Interest expense(1) | $ | 458,360 | $ | 481,039 | $ | 492,169 | $ | 521,345 | $ | 484,622 | $ | 234,827 | $ | 244,191 | |||||||||||||||
Capitalized interest | 6,700 | 7,150 | 8,670 | 16,943 | 13,489 | 7,488 | 4,436 | ||||||||||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | (4,142 | ) | (2,427 | ) | (2,586 | ) | (1,681 | ) | (10,359 | ) | (4,626 | ) | (5,895 | ) | |||||||||||||||
Fixed charges | $ | 460,918 | $ | 485,762 | $ | 498,253 | $ | 536,607 | $ | 487,752 | $ | 237,689 | $ | 242,732 | |||||||||||||||
Consolidated ratio of earnings to fixed charges | 1.23 | 1.78 | 2.25 | 2.29 | 1.57 | 2.13 | 2.13 | ||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for income or loss from equity investees(1) | $ | 102,245 | $ | 384,213 | $ | 636,117 | $ | 709,253 | $ | 299,616 | $ | 275,686 | $ | 278,498 | |||||||||||||||
Fixed charges | 460,918 | 485,762 | 498,253 | 536,607 | 487,752 | 237,689 | 242,732 | ||||||||||||||||||||||
Capitalized interest | (6,700 | ) | (7,150 | ) | (8,670 | ) | (16,943 | ) | (13,489 | ) | (7,488 | ) | (4,436 | ) | |||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 4,142 | 2,427 | 2,586 | 1,681 | 10,359 | 4,626 | 5,895 | ||||||||||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | 6,770 | (147 | ) | (4,799 | ) | (4,267 | ) | (17,839 | ) | (4,156 | ) | (5,373 | ) | ||||||||||||||||
Earnings | $ | 567,375 | $ | 865,105 | $ | 1,123,487 | $ | 1,226,331 | $ | 766,399 | $ | 506,357 | $ | 517,316 | |||||||||||||||
Fixed charges: | |||||||||||||||||||||||||||||
Interest expense(1) | $ | 458,360 | $ | 481,039 | $ | 492,169 | $ | 521,345 | $ | 484,622 | $ | 234,827 | $ | 244,191 | |||||||||||||||
Capitalized interest | 6,700 | 7,150 | 8,670 | 16,943 | 13,489 | 7,488 | 4,436 | ||||||||||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | (4,142 | ) | (2,427 | ) | (2,586 | ) | (1,681 | ) | (10,359 | ) | (4,626 | ) | 1 | (5,895 | ) | ||||||||||||||
Fixed charges | 460,918 | 485,762 | 498,253 | 536,607 | 487,752 | 237,689 | 242,732 | ||||||||||||||||||||||
Preferred stock dividends | 66,336 | 65,408 | 65,406 | 65,406 | 49,410 | 26,059 | 23,352 | ||||||||||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 527,254 | $ | 551,170 | $ | 563,659 | $ | 602,013 | $ | 537,162 | $ | 263,748 | $ | 266,084 | |||||||||||||||
Consolidated ratio of earnings to combined fixed charges and preferred stock dividends | 1.08 | 1.57 | 1.99 | 2.04 | 1.43 | 1.92 | 1.94 | ||||||||||||||||||||||
(1) We have reclassified the income and expenses attributable to the properties sold prior to or held for sale at January 1, 2014 to discontinued operations. | |||||||||||||||||||||||||||||