EXHIBIT 12
ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
Year Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings | |||||||||||||||||||
Income (loss) from continuing operations before provision for income taxes and noncontrolling interests | $ | (4,428 | ) | $ | 4,635 | $ | (15,585 | ) | $ | 591 | $ | 2,273 | |||||||
Add: | |||||||||||||||||||
Interest on indebtedness | 35,254 | 37,203 | 32,266 | 29,991 | 30,525 | ||||||||||||||
Amortization of loan costs | 2,575 | 1,828 | 745 | 1,253 | 1,278 | ||||||||||||||
Interest component of operating leases | 353 | 264 | 227 | 220 | 182 | ||||||||||||||
$ | 33,754 | $ | 43,930 | $ | 17,653 | $ | 32,055 | $ | 34,258 | ||||||||||
Fixed charges | |||||||||||||||||||
Interest on indebtedness | $ | 35,254 | $ | 37,203 | $ | 32,266 | $ | 29,991 | $ | 30,525 | |||||||||
Amortization of loan costs | 2,575 | 1,828 | 745 | 1,253 | 1,278 | ||||||||||||||
Interest component of operating leases | 353 | 264 | 227 | 220 | 182 | ||||||||||||||
$ | 38,182 | $ | 39,295 | $ | 33,238 | $ | 31,464 | $ | 31,985 | ||||||||||
Preferred stock dividends | |||||||||||||||||||
Series A Preferred Stock | $ | 1,867 | $ | — | $ | — | $ | — | $ | — | |||||||||
Series B Preferred Stock | 119 | — | — | — | — | ||||||||||||||
$ | 1,986 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Combined fixed charges and preferred stock dividends | $ | 40,168 | $ | 39,295 | $ | 33,238 | $ | 31,464 | $ | 31,985 | |||||||||
Ratio of earnings to fixed charges | 1.12 | 1.02 | 1.07 | ||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.12 | 1.02 | 1.07 | ||||||||||||||||
Deficit (Fixed charges) | $ | 4,428 | $ | 15,585 | |||||||||||||||
Deficit (Combined fixed charges and preferred stock dividends) | $ | 6,414 | $ | 15,585 |