EX-12.1 3 d449837dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

Earnings to Fixed Charges

(In thousands, except ratios)

		Nine Months Ended								Years Ended December 31,
		9/30/2017								2016								2015								2014								2013								2012
Ratio of Earnings to Fixed Charges
Total revenue		$	170,610							$	217,070							$	209,077							$	207,092							$	197,897							$	190,092
Operating expenses			124,428								161,357								156,147								155,163								162,628								154,996
Operating income			46,182								55,713								52,930								51,929								35,269								35,096
Non-Operating Items :
Loss on early extinguishment of debt			—								—								—								—								(7	)							36
Change in fair value of derivatives			(2	)							(6	)							(10	)							(10	)							(497	)							—
Gain on sales of properties											1,013								11								6,069
Gain on casualty settlements			—								—								—								—								77								219
Income from continuing operations			46,180								56,720								52,931								57,988								34,842								35,351
Fixed Charges:
Interest and amortization of deferred debt expense			35,585								45,683								45,165								46, 034								46,589								49,544
Capitalized Interest			2,495								2,527								2,166								689								170								42
Total fixed charges			38,080								48,210								47,331								46,723								46,759								49,586
Less: Capitalized Interest			(2,495	)							(2,527	)							(2,166	)							(689	)							(170	)							(42	)
Earnings		$	81,765							$	102,403							$	98,096							$	104,022							$	81,431							$	84,895
Fixed charges and preferred dividends :
Total fixed charges		$	38,080							$	48,210							$	47,331							$	46,723							$	46,759							$	49,586
Preferred stock dividends			9,281								12,375								12,375								13,361								13,983								15,140
Total fixed charges and preferred dividends		$	47,361							$	60,585							$	59,706							$	60,084							$	60,742							$	64,726
Ratio of earnings to combined fixed charges and preferred dividends			1.73				X				1.69				X				1.64				X				1.73				X				1.34				X				1.31				X