EX-99.1 5 w592158cexv99w1.htm EX-99.1 exv99w1
EXHIBIT 99.1
Allied Capital Corporation
Computation of Earnings to Fixed Charges
($ in Thousands)
                                                 
    For the Three    
    Months Ended    
    March 31,   For the Year Ended December 31,
    2008   2007   2006   2005   2004   2003
Earnings:
                                                
Net increase (decrease) in net assets resulting from operations(1)
     (40,712 )     153,303       245,123       872,814       249,486       192,011  
Income tax expense (benefit), including excise tax
     1,969       13,624       15,221       11,561       2,057       (2,466 )
     
Total earnings (loss) before taxes
     (38,743 )     166,927       260,344       884,375       251,543       189,545  
     
Fixed Charges:
                                                
Interest expense
     37,560       132,080       100,600       77,352       75,650       77,233  
Rent expense interest factor
     403       1,575       1,329       1,089       1,362       890  
Dividends on preferred stock
     —       10       10       10       62       210  
     
Total fixed charges
     37,963       133,665       101,939       78,451       77,074       78,333  
     
Earnings available (deficit) to cover fixed charges
     (780 )     300,592       362,283       962,826       328,617       267,878  
Ratio of earnings to fixed charges
     N/A       2.2       3.6       12.3       4.3       3.4  
(1)  Net increase (decrease) in net assets resulting from operations includes the net change in unrealized appreciation or depreciation, which is a non-cash item.