Computation of ratio of net income to fixed charges

EX-12 2 d367004dex12.htm COMPUTATION OF RATIO OF NET INCOME TO FIXED CHARGES Computation of ratio of net income to fixed charges

EXHIBIT 12

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:


	*Six Months* *Ended* *June 30, 2012*
			*Year Ended December 31,*
			*2011*		*2010*		*2009*		*2008*		*2007*
Fixed charges	$	34,928	$	66,080	$	56,251	$	128,830	$	258,453	$	275,648
Fixed charges	$	34,928	$	66,080	$	56,251	$	128,830	$	258,453	$	275,648
Net income		88,505		160,204		126,896		129,263		125,923		24,713

	$	123,433	$	226,284	$	183,147	$	258,093	$	384,376	$	300,361

Ratio of net income to fixed charges		3.53:1		3.42:1		3.26:1		2.00:1		1.49:1		1.09:1

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


	*Six Months* *Ended* *June 30, 2012*
			*Year Ended December 31,*
			*2011*		*2010*		*2009*		*2008*		*2007*
Fixed charges	$	34,928	$	66,080	$	56,251	$	128,830	$	258,453	$	275,648
Preferred stock dividends		10,481		20,369		20,233		20,239		20,251		20,256

Combined fixed charges and preferred stock dividends	$	45,409	$	86,449	$	76,484	$	149,069	$	278,704	$	295,904

Fixed charges	$	34,928	$	66,080	$	56,251	$	128,830	$	258,453	$	275,648
Net income		88,505		160,204		126,896		129,263		125,923		24,713

	$	123,433	$	226,284	$	183,147	$	258,093	$	384,376	$	300,361

Ratio of net income to combined fixed charges and preferred stock dividends		2.72:1		2.62:1		2.39:1		1.73:1		1.38:1		1.02:1