EX-12.1 2 snh-20160630ex121c60fa2.htm EX-12.1

Exhibit 12.1

Senior Housing Properties Trust

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

|  | Six Months Ended June 30, |  | Year Ended December 31, |
|  | 201 6 |  | 201 5 |  | 201 4 |  | 2013 |  | 2012 |  | 2011 |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations (including gains on sales of properties, if any) before income tax expense and equity in earnings of an investee |  | $ | 70,615 |  | $ | 125,474 |  | $ | 162,141 |  | $ | 183,997 |  | $ | 131,882 |  | $ | 148,128 |
Fixed charges |  |  | 80,399 |  |  | 150,881 |  |  | 135,114 |  |  | 117,819 |  |  | 117,240 |  |  | 98,262 |
Adjusted earnings |  | $ | 151,014 |  | $ | 276,355 |  | $ | 297,255 |  | $ | 301,816 |  | $ | 249,122 |  | $ | 246,390 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense (including net amortization of debt premiums and discounts and debt issuance costs) |  | $ | 80,399 |  | $ | 150,881 |  | $ | 135,114 |  | $ | 117,819 |  | $ | 117,240 |  | $ | 98,262 |
Ratio of Earnings to F ixed C harges |  |  | 1.9x |  |  | 1.8 x |  |  | 2.2 x |  |  | 2.6 x |  |  | 2.1 x |  |  | 2.5x |