Attached files
| file | filename |
|---|---|
| EX-8.1 - EX-8.1 - Apollo Commercial Real Estate Finance, Inc. | d636375dex81.htm |
| EX-5.1 - EX-5.1 - Apollo Commercial Real Estate Finance, Inc. | d636375dex51.htm |
| EX-4.2 - EX-4.2 - Apollo Commercial Real Estate Finance, Inc. | d636375dex42.htm |
| EX-1.1 - EX-1.1 - Apollo Commercial Real Estate Finance, Inc. | d636375dex11.htm |
| 8-K - 8-K - Apollo Commercial Real Estate Finance, Inc. | d636375d8k.htm |
Exhibit 12.1
Apollo Commercial Real Estate Finance, Inc.
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| For the Year Ended December 31, | ||||||||||||||||||||||||
| Six Months Ended June 30, 2018 |
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
| Fixed Charges |
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| Interest-Expensed |
$ | 28,493 | $ | 48,759 | $ | 42,985 | $ | 30,149 | $ | 15,129 | $ | 3,727 | ||||||||||||
| Interest-Expensed Convert |
15,199 | 18,726 | 14,011 | 14,011 | 8,493 | — | ||||||||||||||||||
| Interest-Capitalized |
5,224 | 6,191 | 4,043 | 2,900 | 8,795 | 566 | ||||||||||||||||||
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| Total Fixed Charges |
$ | 48,916 | $ | 73,676 | $ | 61,039 | $ | 47,060 | $ | 32,417 | $ | 4,293 | ||||||||||||
| Earnings |
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| Net Income |
$ | 104,779 | $ | 193,031 | $ | 157,875 | $ | 91,372 | $ | 75,300 | $ | 45,045 | ||||||||||||
| Less: Equity Investments Income |
— | — | 96 | (3,464 | ) | 157 | — | |||||||||||||||||
| Adjusted Net Income |
104,779 | 193,031 | 157,971 | 87,908 | 75,457 | 45,045 | ||||||||||||||||||
| Add Back: |
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| Fixed Charges |
48,916 | 73,676 | 61,039 | 47,060 | 32,417 | 4,293 | ||||||||||||||||||
| Amortization of Capitalized Interest |
7,520 | 9,238 | 6,503 | 4,700 | 2,918 | 866 | ||||||||||||||||||
| Interest Capitalized |
(5,224 | ) | (6,191 | ) | (4,043 | ) | (2,900 | ) | (8,795 | ) | (566 | ) | ||||||||||||
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| Total Earnings |
$ | 155,991 | $ | 269,754 | $ | 221,470 | $ | 136,768 | $ | 101,997 | $ | 49,638 | ||||||||||||
| Ratio of earnings to fixed charges |
3.19x | 3.66x | 3.63x | 2.91x | 3.15x | 11.56x | ||||||||||||||||||
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