EX-12.1 3 sir_093016xexhibitx121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
SELECT INCOME REIT
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios) 
 
 
Nine Months Ended
 
Year Ended December 31,
 
September 30, 2016
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations (including gains on sales of properties, if any) before income tax expense and equity in earnings of an investee
$
92,395

 
$
75,419

 
$
105,983

 
$
92,662

 
$
65,896

 
$
68,943

Fixed charges
 
61,883

 
 
73,885

 
 
12,974

 
 
13,763

 
 
7,565

 
 
—

Adjusted earnings
$
154,278

 
$
149,304

 
$
118,957

 
$
106,425

 
$
73,461

 
$
68,943

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (including net amortization of debt premiums and discounts and debt issuance costs)
$
61,883

 
$
73,885

 
$
12,974

 
$
13,763

 
$
7,565

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (1)
 
2.5x

 
 
2.0x

 
 
9.2x

 
 
7.7x

 
 
9.7x

 
 
—

 
(1) 
There is no ratio for the year ended December 31, 2011 because there were no fixed charges attributable to us for that year.