EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS Computation of Ratio of Earnings

EXHIBIT 12.1

ANWORTH MORTGAGE ASSET CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands, except ratios)

(unaudited)

Computation of ratio of earnings to combined fixed charges and preferred stock dividends:

 

    Year Ended December 31,
    2007     2006     2005   2004   2003

Fixed charges(1)

   $ 224,884     $ 202,037     $ 131,099   $ 70,184   $ 45,661

Preferred stock dividends

     4,749       4,044       3,901     369     —  
                                 

Combined fixed charges and preferred stock dividends

   $ 229,633     $ 206,081     $ 135,000   $ 70,553   $ 45,661
                                 

Fixed charges

   $ 229,633     $ 206,081     $ 135,000   $ 70,553   $ 45,661

Income (loss) from continuing operations

     (5,178 )     (11,441 )     22,275     49,980     50,195
                                 
  $ 224,455     $ 194,640     $ 157,275   $ 120,533   $ 95,856
                                 

Ratio of earnings to combined fixed charges and preferred stock dividends

     0.98       0.94       1.17     1.71     2.10
                                 

 

(1) Fixed charges consist of interest expense on all indebtedness.