EX-12.1 6 a04-3260_1ex12d1.htm EX-12.1

Exhibit 12.1

 

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

 

 

 

Year Ended December 31,

 

 

 

2003

 

2002

 

2001

 

2000

 

1999

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

45,874

 

$

50,184

 

$

17,018

 

$

58,437

 

$

14,834

 

Fixed charges

 

37,899

 

30,210

 

7,334

 

15,366

 

18,768

 

Adjusted earnings

 

$

83,773

 

$

80,394

 

$

24,352

 

$

73,803

 

$

33,602

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

35,088

 

$

27,399

 

$

5,879

 

$

15,366

 

$

18,768

 

Distributions on trust preferred securities

 

2,811

 

2,811

 

1,455

 

—

 

—

 

Total fixed charges

 

$

37,899

 

$

30,210

 

$

7,334

 

$

15,366

 

$

18,768

 

Ratio of earnings to fixed charges

 

2.2

x

2.7

x

3.3

x

4.8

x

1.8

x