EX-12.1 4 a2218465zex-12_1.htm EX-12.1
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Exhibit 12.1

Senior Housing Properties Trust
Computation of Ratios of Earnings to Fixed Charges
(dollars in thousands)

 
   Year Ended December 31,  
 
   2013   2012   2011   2010   2009  

Earnings:

                                

Pre-tax income from continuing operations before equity in earnings of an investee

   $ 183,731   $ 131,823   $ 147,306   $ 116,373   $ 109,616  

Fixed charges

     117,819     117,240     98,262     80,017     56,404  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Adjusted earnings

   $ 301,550   $ 249,063   $ 245,568   $ 196,390   $ 166,020  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges:

                                

Interest expense

   $ 117,819   $ 117,240   $ 98,262   $ 80,017   $ 56,404  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ratio of earnings to fixed charges

     2.6x     2.1x     2.5x     2.5x     2.9x  
                       
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Senior Housing Properties Trust Computation of Ratios of Earnings to Fixed Charges (dollars in thousands)