EX-12.1 7 a2190951zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

FIVE STAR QUALITY CARE, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands except ratios)

 

 

 

Year ended December 31,

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

Consolidated earnings (loss)

 

$

129,532

 

$

135,075

 

$

(18,851

)

$

(5,192

)

$

68,612

 

Consolidated fixed charges

 

127,714

 

107,570

 

90,736

 

74,499

 

63,431

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of consolidated earnings to fixed charges

 

1.0x

 

1.3x

 

N/M

 

N/M

 

1.1x

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency

 

—

 

—

 

109,587

 

79,691

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of consolidated earnings (loss):

 

 

 

 

 

 

 

 

 

 

 

Consolidated income (loss) from continuing operations before income tax

 

$

1,818

 

$

27,505

 

$

(109,587

)

$

(79,691

)

$

5,181

 

Consolidated fixed charges

 

127,714

 

107,570

 

90,736

 

74,499

 

63,431

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated earnings (loss)

 

$

129,532

 

$

135,075

 

$

(18,851

)

$

(5,192

)

$

68,612

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

6,070

 

$

6,335

 

$

3,791

 

$

3,045

 

$

882

 

Estimated interest component of rent expense

 

121,377

 

100,768

 

86,372

 

70,867

 

62,260

 

Amortization of debt discounts / premium

 

34

 

49

 

191

 

193

 

—

 

Amortization of capitalized deferred finance costs

 

233

 

418

 

382

 

394

 

289

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

127,714

 

$

107,570

 

$

90,736

 

$

74,499

 

$

63,431