EX-12.1 6 arcp-123112xex121.htm RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS. ARCP - 12.31.12 - EX 12.1
Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 
 
 
American Realty Capital Properties, Inc.
 
ARC Predecessor Companies
 
 
 
 
Year Ended
 
September 6, 2011 to
 
January 1, 2011 to
 
Year Ended
 
June 5, 2008 to
 
Period:
 
December 31, 2012
 
December 31, 2011
 
September 5, 2011
 
December 31, 2010
 
December 31, 2009
 
December 31, 2008
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax loss from continuing operations
 
$
(6,579
)
 
$
(1,759
)
 
$
(5,302
)
 
$
(7,421
)
 
$
(8,614
)
 
$
(1,182
)
 
Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
4,720

 
924

 
7,941

 
10,805

 
6,963

 
1,608

 
Total Earnings
 
$
(1,859
)
 
$
(835
)
 
$
2,639

 
$
3,384

 
$
(1,651
)
 
$
426

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized (1)
 
$
4,356

 
$
924

 
$
7,941

 
$
10,805

 
$
6,963

 
$
1,608

 
 
Preference security dividend requirements
 
364

 
-

 
-

 
-

 
-

 
-

 
Total Fixed Charges
 
$
4,720

 
$
924

 
$
7,941

 
$
10,805

 
$
6,963

 
$
1,608

 
Ratio of Earnings to fixed charges calculation
 
-0.39

x
-0.90

x
0.33

x
0.31

x
-0.24

x
0.26

x
Deficiency
 
$
6,579

 
$
1,759

 
NA

 
NA

 
$
8,614

 
NA

 
___________________
(1) 
Interest expensed includes amortization of premiums and discounts on borrowings and amortization of capitalized expenses related to indebtedness.