EX-12.1 3 rso-20121231xexhibit121.htm EXHIBIT 12.1 RSO-2012.12.31-EXHIBIT12.1


Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the period from
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 8, 2005
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(date operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
commenced)
 
 
Year ended
 
Year ended
 
Year ended
 
Year ended
 
Year ended
 
Year ended
 
Year ended
 
through
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
 
2012
 
2011
 
2010
 
2009
 
2008
 
2007
 
2006
 
2005
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Pretax income before preferred shares
      from continuing operations
 
$
79,045,303

  
$
49,752,614

  
$
25,167,380

 
$
6,336,588

 
$
(3,314,694
)
 
$
9,228,102

 
$
15,673,123

 
$
10,908,478

   Fixed charges
 
42,809,788

  
30,450,471

  
36,486,361

 
45,450,398

 
79,640,808

  
121,585,223

  
101,870,728

  
43,084,726

        Total
 
$
121,855,091

  
$
80,203,085

  
$
61,653,741

 
$
51,786,986

 
$
76,326,114

  
$
130,813,325

  
$
117,543,851

  
$
53,993,204

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   Interest (expensed and capitalized)
 
$
38,027,275

  
$
27,043,926

  
$
31,876,054

 
$
41,369,137

 
$
76,490,096

  
$
118,882,304

  
$
100,242,439

  
$
42,600,618

   Amortized premiums, discounts
and capitalized expenses related
     to indebtedness
 
4,765,109

  
3,387,123

  
4,590,397

 
4,058,255

 
3,128,657

  
2,681,235

  
1,608,237

  
460,869

   Estimate of interest within rental expenses
 
17,404

  
19,422

  
19,910

 
23,006

 
22,055

  
21,684

  
20,052

  
23,239

      Total
 
$
42,809,788

  
$
30,450,471

  
$
36,486,361

 
$
45,450,398

 
$
79,640,808

  
$
121,585,223

  
$
101,870,728

  
$
43,084,726

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock dividend
 
$
1,243,971

  
$

  
$

 
$

 
$

  
$

  
$

  
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges (1)
 
2.85

  
2.63

  
1.69

 
1.14

 
0.96

  
1.08

  
1.15

  
1.25

Ratio of earnings to combined fixed charges
and preferred stock dividends
(1)
 
2.77

  
2.63

  
1.69

 
1.14

 
0.96

  
1.08

  
1.15

  
1.25

        
(1)
The Company did not have any shares of preferred stock outstanding until June 2012 and paid its first preferred stock dividend in July 2012.