EX-12.1 3 sir_123116xexhibitx121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
SELECT INCOME REIT
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios) 
 
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations (including gains on sales of properties, if any) before income tax expense and equity in earnings of an investee
 
$
116,665

 
$
75,419

 
$
105,983

 
$
92,662

 
$
65,896

Fixed charges
 
82,620

 
73,885

 
12,974

 
13,763

 
7,565

Adjusted earnings
 
$
199,285

 
$
149,304

 
$
118,957

 
$
106,425

 
$
73,461

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense (including net amortization of debt issuance costs, premiums and discounts)
 
$
82,620

 
$
73,885

 
$
12,974

 
$
13,763

 
$
7,565

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.4x

 
2.0x

 
9.2x

 
7.7x

 
9.7x