EX-12.1 16 a07-5624_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,

 

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

Consolidated (loss) earnings

 

$

(19,353

)

$

(4,772

)

$

68,732

 

$

48,756

 

$

48,004

 

Consolidated fixed charges

 

92,687

 

76,387

 

63,431

 

53,835

 

57,800

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of consolidated earnings to fixed charges

 

N/M

 

N/M

 

1.1x

 

N/M

 

N/M

 

Deficiency

 

112,040

 

81,159

 

—  

 

5,079

 

9,796

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of consolidated (loss) earnings:

 

 

 

 

 

 

 

 

 

 

 

Consolidated (loss) income from continuing operations before income tax

 

$

(112,040

)

$

(81,159

)

$

5,301

 

$

(5,079

)

$

(9,796

)

Consolidated fixed charges

 

92,687

 

76,387

 

63,431

 

53,835

 

57,800

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated (loss) earnings

 

$

(19,353

)

$

(4,772

)

$

68,732

 

$

48,756

 

$

48,004

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

3,983

 

$

3,347

 

$

882

 

$

1,164

 

$

198

 

Estimated interest component of rent expense

 

88,131

 

72,453

 

62,260

 

52,396

 

57,551

 

Amortization of debt discounts / premium

 

191

 

193

 

—

 

—

 

—

 

Amortization of capitalized deferred finance costs

 

382

 

394

 

289

 

275

 

51

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

92,687

 

$

76,387

 

$

63,431

 

$

53,835

 

$

57,800