Attached files
| file | filename |
|---|---|
| EX-32.2 - SECTION 906 CFO CERTIFICATION - Sabra Health Care REIT, Inc. | sbraex3222018q2.htm |
| EX-32.1 - SECTION 906 CEO CERTIFICATION - Sabra Health Care REIT, Inc. | sbraex3212018q2.htm |
| EX-31.2 - SECTION 302 CFO CERTIFICATION - Sabra Health Care REIT, Inc. | sbraex3122018q2.htm |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - Sabra Health Care REIT, Inc. | sbraex3112018q2.htm |
| 10-Q - 10-Q - Sabra Health Care REIT, Inc. | sbra10q2018q2.htm |
Exhibit 12.1
SABRA HEALTH CARE REIT, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||
Earnings | |||||||||||||||||
Income before loss from unconsolidated joint venture and income tax expense | $ | 203,741 | $ | 20,672 | $ | 266,286 | $ | 39,683 | |||||||||
Add: | |||||||||||||||||
Fixed charges | 36,811 | 15,878 | 72,683 | 31,682 | |||||||||||||
Noncontrolling interests | (2 | ) | (16 | ) | (12 | ) | 16 | ||||||||||
Earnings, as adjusted | $ | 240,550 | $ | 36,534 | $ | 338,957 | $ | 71,381 | |||||||||
Fixed charges | |||||||||||||||||
Interest expensed and capitalized | $ | 34,241 | $ | 14,209 | $ | 67,578 | $ | 28,406 | |||||||||
Non-cash interest expense | 2,516 | 1,653 | 4,997 | 3,244 | |||||||||||||
Estimate of interest within rental expense | 54 | 16 | 108 | 32 | |||||||||||||
Fixed charges, as adjusted | 36,811 | 15,878 | 72,683 | 31,682 | |||||||||||||
Preferred stock dividends (1) | 1,706 | 2,560 | 4,267 | 5,121 | |||||||||||||
Combined fixed charges and preferred stock dividends | $ | 38,517 | $ | 18,438 | $ | 76,950 | $ | 36,803 | |||||||||
Ratio of earnings to fixed charges | 6.53 | x | 2.30 | x | 4.66 | x | 2.25 | x | |||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 6.25 | x | 1.98 | x | 4.40 | x | 1.94 | x | |||||||||
(1) | The three and six months ended June 30, 2018 exclude $5.5 million of capitalized issuance costs related to the preferred stock issuance that were written off as a result of the June 1, 2018 preferred stock redemption and presented as an additional preferred stock dividend in the condensed consolidated statements of income of Sabra Health Care REIT, Inc. |