EX-12.1 4 a03-4633_1ex12d1.htm EX-12.1

Exhibit 12.1

 

SENIOR HOUSING PROPERTIES TRUST

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

 

 

Nine Months
Ended
September 30,

 

Year Ended December 31,

 

 

 

2003

 

2002

 

2002

 

2001

 

2000

 

1999

 

1998

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

32,320

 

$

35,358

 

$

50,184

 

$

17,018

 

$

58,437

 

$

14,834

 

$

46,236

 

Fixed charges

 

27,660

 

22,537

 

30,210

 

7,334

 

15,366

 

18,768

 

19,293

 

Adjusted earnings

 

$

59,980

 

$

57,895

 

$

80,394

 

$

24,352

 

$

73,803

 

$

33,602

 

$

65,529

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

25,551

 

$

20,428

 

$

27,399

 

$

5,879

 

$

15,366

 

$

18,768

 

$

19,293

 

Distributions on trust preferred securities

 

2,109

 

2,109

 

2,811

 

1,455

 

—

 

—

 

—

 

Total fixed charges

 

$

27,660

 

$

22,537

 

$

30,210

 

$

7,334

 

$

15,366

 

$

18,768

 

$

19,293

 

Ratio of earnings to fixed charges

 

2.2

x 

2.6

x 

2.7

x 

3.3

x 

4.8

x 

1.8

x 

3.4

x