EX-12.1 5 snh-20151231ex121ff1863.htm EX-12.1

Exhibit 12.1

Senior Housing Properties Trust

Computation of Ratios of Earnings to Fixed Charges

(dollars in thousands)

|  | Year Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011 |
Earnings: |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations (including gains on sales of properties, if any) before income tax expense and equity in earnings (losses) of an investee |  | $ 125,474 |  | $ 162,141 |  | $ 183,997 |  | $ 131,882 |  | $ 148,128 |
Fixed charges |  | 150,881 |  | 135,114 |  | 117,819 |  | 117,240 |  | 98,262 |
Adjusted earnings |  | $ 276,355 |  | $ 297,255 |  | $ 301,816 |  | $ 249,122 |  | $ 246,390 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ 150,881 |  | $ 135,114 |  | $ 117,819 |  | $ 117,240 |  | $ 98,262 |
Ratio of earnings to fixed charges |  | 1.8x |  | 2.2x |  | 2.6x |  | 2.1x |  | 2.5x |