Statement Regarding Computation of Ratios of Income from Continuing Operations

EX-12.1 5 d305418dex121.htm STATEMENT REGARDING COMPUTATION OF RATIOS OF INCOME FROM CONTINUING OPERATIONS Statement Regarding Computation of Ratios of Income from Continuing Operations

EXHIBIT 12.1

CAPSTEAD MORTGAGE CORPORATION

COMPUTATION OF RATIO OF NET INCOME TO FIXED CHARGES AND RATIO OF NET

INCOME TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(In thousands, except ratios)

(Unaudited)

Computation of ratio of net income to fixed charges:


	*Nine Months* *Ended* September 30, 2011
			*Year Ended December 31,*
			*2010*		*2009*		*2008*		*2007*		*2006*
Fixed charges	$	48,337	$	56,251	$	128,830	$	258,453	$	275,648	$	235,521

Fixed charges	$	48,337	$	56,251	$	128,830	$	258,453	$	275,648	$	235,521
Net income		118,236		126,896		129,263		125,923		24,713		3,843

	$	166,573	$	183,147	$	258,093	$	384,376	$	300,361	$	239,364

Ratio of net income to fixed charges		3.45:1		3.26:1		2.00:1		1.49:1		1.09:1		1.02:1

Computation of ratio of net income to combined fixed charges and preferred stock dividends:


	*Nine Months* *Ended* September 30, 2011
			*Year Ended December 31,*
			*2010*		*2009*		*2008*		*2007*		*2006*
Fixed charges	$	48,337	$	56,251	$	128,830	$	258,453	$	275,648	$	235,521
Preferred stock dividends		15,223		20,233		20,239		20,251		20,256		20,256

Combined fixed charges and preferred stock dividends	$	63,560	$	76,484	$	149,069	$	278,704	$	295,904	$	255,777

Fixed charges	$	48,337	$	56,251	$	128,830	$	258,453	$	275,648	$	235,521
Net income		118,236		126,896		129,263		125,923		24,713		3,843

	$	166,573	$	183,147	$	258,093	$	384,376	$	300,361	$	239,364

Ratio of net income to combined fixed charges and preferred stock dividends		2.62:1		2.39:1		1.73:1		1.38:1		1.02:1

Deficiency of net income (before fixed charges) to combined fixed charges and preferred stock dividends											$	16,413