EX-12 2 d30146exv12.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES exv12
 

EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratios)
(Unaudited)
                                                 
    Nine Months        
    Ended     Year Ended December 31  
    September 30, 2005     2004     2003     2002     2001     2000  
Fixed charges
   $ 75,631     $ 49,179     $ 62,859     $ 169,148     $ 362,327     $ 540,605  
Preferred stock dividends
     15,192       20,259       20,273       20,362       20,446       24,260  
 
                                    
Combined fixed charges and preferred stock dividends
   $ 90,823     $ 69,438     $ 83,132     $ 189,510     $ 382,773     $ 564,865  
 
                                    
 
                                                
Fixed charges
   $ 75,631     $ 49,179     $ 62,859     $ 169,148     $ 362,327     $ 540,605  
Net income (loss)
     18,207       41,805       60,659       96,123       106,276       (51,486 )
 
                                    
 
   $ 93,838     $ 90,984     $ 123,518     $ 265,271     $ 468,603     $ 489,119  
 
                                    
 
                                                
Ratio of earnings to combined fixed charges and preferred stock dividends
     1.03:1       1.31:1       1.49:1       1.40:1       1.22:1       0.87:1