Computation of Ratio of Income

EX-12 2 dex12.htm COMPUTATION OF RATIO OF INCOME Computation of Ratio of Income

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:


	*Three Months* *Ended* *March 31, 2010*		*Year Ended December 31,*
	*Three Months* *Ended* *March 31, 2010*		*2009*		*2008*		*2007*		*2006*		*2005*
Fixed charges	$	15,555	$	128,830	$	258,453	$	275,648	$	235,521	$	106,909
Preferred stock dividends		5,058		20,239		20,251		20,256		20,256		20,256

Combined fixed charges and preferred stock dividends	$	20,613	$	149,069	$	278,704	$	295,904	$	255,777	$	127,165

Fixed charges	$	15,555	$	128,830	$	258,453	$	275,648	$	235,521	$	106,909
Income from continuing operations		40,437		129,263		125,923		24,713		3,843		17,195

	$	55,992	$	258,093	$	384,376	$	300,361	$	239,364	$	124,104

Ratio of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends		2.72:1		1.73:1		1.38:1		1.02:1

Deficiency of income from continuing operations (before fixed charges) to combined fixed charges and preferred stock dividends									$	16,413	$	3,061