EX-12 2 d51046exv12.htm COMPUTATION OF RATIO OF INCOME FROM CONTINUING OPERATIONS exv12
 

EXHIBIT 12
CAPSTEAD MORTGAGE CORPORATION
COMPUTATION OF RATIO OF INCOME FROM CONTINUING OPERATIONS (BEFORE
FIXED CHARGES) TO COMBINED FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS
(In thousands, except ratios)
(Unaudited)
Computation of ratio of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends:
                                                 
    Nine Months        
    Ended        
    September 30,     Year Ended December 31,  
    2007     2006     2005     2004     2003     2002  
 
Fixed charges
   $ 203,734     $ 235,521     $ 106,909     $ 44,939     $ 58,924     $ 164,994  
Preferred stock dividends
     15,192       20,256       20,256       20,259       20,273       20,362  
 
                                    
Combined fixed charges and preferred stock dividends
   $ 218,926     $ 255,777     $ 127,165     $ 65,198     $ 79,197     $ 185,356  
 
                                    
 
                                                
Fixed charges
   $ 203,734     $ 235,521     $ 106,909     $ 44,939     $ 58,924     $ 164,994  
Income from continuing operations
     8,853       3,843       17,195       39,869       58,666       95,246  
 
                                    
 
   $ 212,587     $ 239,364     $ 124,104     $ 84,808     $ 117,590     $ 260,240  
 
                                    
Ratio of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends
                             1.30:1       1.48:1       1.40:1  
 
                                          
 
                                                
Deficiency of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends
   $ 6,339     $ 16,413     $ 3,061