Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - ACRES Commercial Realty Corp. | a201811710qxan-ex991.htm |
| EX-32.2 - EXHIBIT 32.2 - ACRES Commercial Realty Corp. | a201893010qxan-exhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - ACRES Commercial Realty Corp. | a201893010qxan-exhibit321.htm |
| EX-31.2 - EXHIBIT 31.2 - ACRES Commercial Realty Corp. | a201893010qxan-exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - ACRES Commercial Realty Corp. | a201893010qxan-exhibit311.htm |
| 10-Q - 10-Q - ACRES Commercial Realty Corp. | a201893010qxan.htm |
Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS
Nine Months Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | ||||||||||||||||||
September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||
(unaudited) | |||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Pretax income (loss) before preferred shared from continuing operations | $ | 17,473,205 | $ | 56,049,203 | $ | (343,321 | ) | $ | 12,433,855 | $ | 57,717,463 | $ | 45,636,957 | ||||||||||
Non-controlling interest | — | (195,573 | ) | (229,547 | ) | 6,627,890 | 965,007 | — | |||||||||||||||
Equity in earnings of unconsolidated subsidiaries | (230,970 | ) | (38,973,116 | ) | (5,973,088 | ) | (2,388,038 | ) | (4,766,980 | ) | (949,180 | ) | |||||||||||
Cash income received from unconsolidated entities | 411,244 | 49,713,376 | 1,869,247 | 2,963,499 | 1,163,805 | — | |||||||||||||||||
Fixed charges | 47,885,259 | 55,717,718 | 53,765,276 | 56,568,114 | 43,528,402 | 60,957,469 | |||||||||||||||||
Total | $ | 65,538,738 | $ | 122,311,608 | $ | 49,088,567 | $ | 76,205,320 | $ | 98,607,697 | $ | 105,645,246 | |||||||||||
Fixed charges: | |||||||||||||||||||||||
Interest (expensed and capitalized) | $ | 40,420,781 | $ | 44,290,017 | $ | 45,223,899 | $ | 48,186,795 | $ | 36,729,426 | $ | 52,298,502 | |||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 7,444,983 | 11,387,378 | 8,523,738 | 8,343,513 | 6,763,854 | 8,629,755 | |||||||||||||||||
Estimate of interest within rental expenses | 19,495 | 40,323 | 17,639 | 37,806 | 35,122 | 29,212 | |||||||||||||||||
Total | $ | 47,885,259 | $ | 55,717,718 | $ | 53,765,276 | $ | 56,568,114 | $ | 43,528,402 | $ | 60,957,469 | |||||||||||
Preferred stock dividends | $ | 10,384,966 | $ | 24,057,361 | $ | 24,091,021 | $ | 24,437,458 | $ | 17,175,869 | $ | 7,221,041 | |||||||||||
Ratio of earnings to combined fixed charges | 1.37 | 2.20 | — | (1) | 1.35 | 2.27 | 1.73 | ||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.12 | 1.53 | — | (2) | — | (2) | 1.62 | 1.55 | |||||||||||||||
(1) | The dollar amount of the deficiency for the year ended December 31, 2016 was $4.7 million. |
(2) | The dollar amounts of the deficiencies for the years ended December 31, 2016 and 2015 were $28.8 million and $4.8 million, respectively. |