EX-12 2 a20123-6x12posasrreitregst.htm EXHIBIT 12.1 2012 3-6-12 POSASR REIT Reg Stmt Exh12.1 Computation of Earnings to Fixed Charges and Prefered Stock Dividends


Exhibit 12.1

 FelCor Lodging Trust Incorporated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Computation of Ratio of Earnings To Fixed Charges and Preferred Securities Dividends
(in thousands, except for ratio)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 Year Ended December 31,
 
 
2011
 
2010
 
2010
 
2009
 
2008
 
2007
 
2006
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
(105,629
)
 
$
(68,885
)
 
$
(181,092
)
 
$
(95,846
)
 
$
(41,273
)
 
$
52,843

 
$
2,702

Equity in income of unconsolidated entities
 
1,303

 
886

 
(16,916
)
 
4,814

 
10,932

 
(20,357
)
 
(11,537
)
Pre-tax income (loss) from continuing
  operations before adjustment for income
  or loss from equity investees
 
(104,326
)
 
(67,999
)
 
(198,008
)
 
(91,032
)
 
(30,341
)
 
32,486

 
(8,835
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
102,056

 
105,339

 
139,853

 
100,260

 
92,746

 
89,654

 
106,941

Capitalized interest
 
913

 
471

 
638

 
767

 
1,350

 
4,808

 
4,917

The sum of interest expensed and capitalized,
  amortized premiums, discounts and
  capitalized expenses related to indebtedness
 
102,969

 
105,810

 
140,491

 
101,027

 
94,096

 
94,462

 
111,858

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of capitalized interest
 
915

 
881

 
1,736

 
1,735

 
1,831

 
1,736

 
1,359

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Distributed income of equity investees
 
1,534

 
1,869

 
2,190

 
2,789

 
2,973

 
947

 
3,632

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(913
)
 
(471
)
 
(638
)
 
(767
)
 
(1,350
)
 
(4,808
)
 
(4,917
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
$
179

 
$
40,090

 
$
(54,229
)
 
$
13,752

 
$
67,209

 
$
124,823

 
$
103,097

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
$
102,969

 
$
105,810

 
$
140,491

 
$
101,027

 
$
94,096

 
$
94,462

 
$
111,858

Preferred securities dividends
 
29,034

 
29,034

 
38,713

 
38,713

 
38,713

 
38,713

 
38,713

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges and preferred securities
   dividends
 
$
132,003

 
$
134,844

 
$
179,204

 
$
139,740

 
$
132,809

 
$
133,175

 
$
150,571

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
—

 
0.30

 
(0.30
)
 
0.10

 
0.51

 
0.94

 
0.68

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deficiency
 
$
131,824

 
$
94,754

 
$
233,433

 
$
125,988

 
$
65,600

 
$
8,352

 
$
47,474