EX-12.1 4 a05-1953_1ex12d1.htm EX-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,

 

 

 

2004

 

2003

 

2002

 

2001

 

 

 

 

 

 

 

 

 

 

 

Consolidated earnings (loss)

 

$

4,461

 

$

(6,500

)

$

(12,925

)

$

527

 

Consolidated fixed charges

 

1,170

 

1,439

 

249

 

—

 

 

 

 

 

 

 

 

 

 

 

Ratio of consolidated earnings to fixed charges

 

3.8

x 

N/M

 

N/M

 

N/M

 

Deficiency

 

—

 

9,378

 

13,423

 

N/A

 

 

 

 

 

 

 

 

 

 

 

Calculation of fixed charges:

 

 

 

 

 

 

 

 

 

Interest expense

 

$

880

 

$

1,164

 

$

198

 

—

 

Interest expense capitalized

 

—

 

—

 

—

 

—

 

Interest component of capitalized lease expense

 

—

 

—

 

—

 

—

 

Amortization of debt discounts

 

—

 

—

 

—

 

—

 

Amortization of capitalized deferred finance costs

 

290

 

275

 

51

 

—

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

1,170

 

$

1,439

 

$

249

 

—

 

 

 

 

 

 

 

 

 

 

 

Calculation of consolidated earnings (loss):

 

 

 

 

 

 

 

 

 

Consolidated net income

 

$

3,291

 

$

(7,939

)

$

(13,174

)

$

527

 

Consolidated fixed charges

 

1,170

 

1,439

 

249

 

—

 

 

 

 

 

 

 

 

 

 

 

Consolidated earnings (loss)

 

$

4,461

 

$

(6,500

)

$

(12,925

)

$

527

 

 

 


 

 

 

Integrated Health
Services, Inc.
(A predecessor)

 

Mariner Post Acute
Network, Inc.
(A predecessor)

 

 

 

Year ended December 31, 2000

 

Year ended December 31, 2000

 

 

 

 

 

 

 

Consolidated earnings (loss)

 

$

(23,199

)

$

(7,300

)

Consolidated fixed charges

 

2,053

 

121

 

 

 

 

 

 

 

Ratio of consolidated earnings to fixed charges

 

N/M

 

N/M

 

Deficiency

 

27,305

 

7,542

 

 

 

 

 

 

 

Calculation of fixed charges:

 

 

 

 

 

Interest expense

 

$

2,053

 

$

121

 

Interest expense capitalized

 

—

 

—

 

Interest component of capitalized lease expense

 

—

 

—

 

Amortization of debt discounts

 

—

 

—

 

Amortization of capitalized deferred finance costs

 

—

 

—

 

 

 

 

 

 

 

Fixed charges

 

$

2,053

 

$

121

 

 

 

 

 

 

 

Calculation of consolidated earnings (loss):

 

 

 

 

 

Consolidated net income

 

$

(25,252

)

$

(7,421

)

Consolidated fixed charges

 

2,053

 

121

 

 

 

 

 

 

 

Consolidated earnings (loss)

 

$

(23,199

)

$

(7,300

)