EX-12.1 5 a2235998zex-12_1.htm EX-12.1

Exhibit 12.1

 

ARBOR REALTY TRUST, INC. AND SUBSIDIARIES

Statement of Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

 

 

 

Three Months Ended

 

Years Ended December 31,

 

 

 

March 31, 2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations, pretax

 

$

28,284,076

 

$

110,867,286

 

$

63,305,893

 

$

53,428,814

 

$

93,048,490

 

$

21,298,737

 

Add (Subtract):

 

 

 

 

 

 

 

 

 

 

 

 

 

(Income) loss from equity affiliates

 

(745,787

)

2,950,587

 

(12,994,607

)

(12,300,516

)

(248,658

)

204,475

 

Distributions from equity affiliates

 

3,233,846

 

7,459,695

 

16,006,905

 

5,622,944

 

9,256,730

 

176,777

 

Fixed charges

 

33,386,810

 

90,071,975

 

63,941,178

 

50,624,510

 

49,238,543

 

43,544,166

 

Income before fixed charges

 

$

64,158,945

 

$

211,349,543

 

$

130,259,369

 

$

97,375,752

 

$

151,295,105

 

$

65,224,155

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

33,386,810

 

$

90,071,975

 

$

63,941,178

 

$

50,624,510

 

$

49,238,543

 

$

43,544,166

 

Total fixed charges

 

$

33,386,810

 

$

90,071,975

 

$

63,941,178

 

$

50,624,510

 

$

49,238,543

 

$

43,544,166

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.9

 

2.3

 

2.0

 

1.9

 

3.1

 

1.5

 

 

Statement of Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

(Unaudited)

 

 

 

Three Months Ended

 

Years Ended December 31,

 

 

 

March 31, 2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations, pretax

 

$

28,284,076

 

$

110,867,286

 

$

63,305,893

 

$

53,428,814

 

$

93,048,490

 

$

21,298,737

 

Add (Subtract):

 

 

 

 

 

 

 

 

 

 

 

 

 

(Income) loss from equity affiliates

 

(745,787

)

2,950,587

 

(12,994,607

)

(12,300,516

)

(248,658

)

204,475

 

Distributions from equity affiliates

 

3,233,846

 

7,459,695

 

16,006,905

 

5,622,944

 

9,256,730

 

176,777

 

Fixed charges

 

33,386,810

 

90,071,975

 

63,941,178

 

50,624,510

 

49,238,543

 

43,544,166

 

Capitalized interest

 

—

 

—

 

—

 

—

 

—

 

—

 

Income before fixed charges

 

$

64,158,945

 

$

211,349,543

 

$

130,259,369

 

$

97,375,752

 

$

151,295,105

 

$

65,224,155

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

33,386,810

 

$

90,071,975

 

$

63,941,178

 

$

50,624,510

 

$

49,238,543

 

$

43,544,166

 

Capitalized interest

 

—

 

—

 

—

 

—

 

—

 

—

 

Preferred stock dividends

 

1,892,795

 

7,568,186

 

7,568,261

 

7,568,179

 

7,270,953

 

4,521,083

 

Total fixed charges

 

$

35,279,605

 

$

97,640,161

 

$

71,509,439

 

$

58,192,689

 

$

56,509,496

 

$

48,065,249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.8

 

2.2

 

1.8

 

1.7

 

2.7

 

1.4