EX-12.1 5 v460015_ex12-1.htm EXHIBIT 12.1

         

      EXHIBIT 12.1

 

GLOBAL NET LEASE, INC.

CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

Global Net Lease, Inc.’s ratios of earnings to fixed charges and ratios of earnings to combined fixed charges for the five years ended December 31, 2016 were as follows:    

 

   Year Ended December 31, 
   2016   2015   2014   2013   2012 
   (Dollars in thousands)  
Earnings:                         
Pre-tax income/(loss) from continuing operations before adjustment for non-controlling interests in consolidated subsidiaries  $51,999   $3,874   $(55,025)  $(6,989)  $(413)
Add: Interest expense   32,860    26,826    11,597    720    9 
Amortization of deferred financing costs   6,698    8,527    3,753    250    1 
Amortization of mortgage (discount) premium, net and mezzanine discount   (437)   (489)   (498)   (1)   - 
                          
Earnings  $91,120   $38,738   $(40,173)  $(6,020)  $(403)
                          
                          
Fixed Charges:                         
Interest expense  $32,860   $26,826   $11,597   $720   $9 
Amortization of deferred financing costs   6,698    8,527    3,753    250    1 
Amortization of mortgage (discount) premium, net and mezzanine discount   (437)   (489)   (498)   (1)   - 
                          
Fixed Charges  $39,121   $34,864   $14,852   $969   $10 
                          
Preferred distributions   -    -    -    -    - 
                          
Combined fixed charges  $39,121   $34,864   $14,852   $969   $10 
                          
Ratio of earnings to fixed charges   2.33    1.11    (2.70)   (6.21)   (40.30)
                          
Ratio of earnings to combined fixed charges   2.33    1.11    (2.70)   (6.21)   (40.30)