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, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings | |||||||||||||||||||
Income (loss) from continuing operations before provision for income taxes and noncontrolling interests | $ | 25,894 | $ | (4,428 | ) | $ | 4,635 | $ | (15,585 | ) | $ | 591 | |||||||
Amount recorded for equity in loss of unconsolidated entity | 2,587 | 2,927 | — | — | — | ||||||||||||||
Add: | |||||||||||||||||||
Interest on indebtedness | 37,712 | 35,254 | 37,203 | 32,266 | 29,991 | ||||||||||||||
Amortization of loan costs | 3,169 | 2,575 | 1,828 | 745 | 1,253 | ||||||||||||||
Interest component of operating leases | 431 | 353 | 264 | 227 | 220 | ||||||||||||||
$ | 69,793 | $ | 36,681 | $ | 43,930 | $ | 17,653 | $ | 32,055 | ||||||||||
Fixed charges | |||||||||||||||||||
Interest on indebtedness | $ | 37,712 | $ | 35,254 | $ | 37,203 | $ | 32,266 | $ | 29,991 | |||||||||
Amortization of loan costs | 3,169 | 2,575 | 1,828 | 745 | 1,253 | ||||||||||||||
Interest component of operating leases | 431 | 353 | 264 | 227 | 220 | ||||||||||||||
$ | 41,312 | $ | 38,182 | $ | 39,295 | $ | 33,238 | $ | 31,464 | ||||||||||
Preferred stock dividends | |||||||||||||||||||
Series A Preferred Stock | $ | — | $ | 1,867 | $ | — | $ | — | $ | — | |||||||||
Series B Preferred Stock | 3,860 | 119 | — | — | — | ||||||||||||||
$ | 3,860 | $ | 1,986 | $ | — | $ | — | $ | — | ||||||||||
Combined fixed charges and preferred stock dividends | $ | 45,172 | $ | 40,168 | $ | 39,295 | $ | 33,238 | $ | 31,464 | |||||||||
Ratio of earnings to fixed charges | 1.69 | 1.12 | 1.02 | ||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.55 | 1.12 | 1.02 | ||||||||||||||||
Deficit (Fixed charges) | $ | 1,501 | $ | 15,585 | |||||||||||||||
Deficit (Combined fixed charges and preferred stock dividends) | $ | 3,487 | $ | 15,585 |