EX-12.1
Published on August 5, 2014
Exhibit 12.1
REXFORD INDUSTRIAL REALTY, INC.
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
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Rexford Industrial Realty, Inc |
Rexford Industrial Realty, Inc. Predecessor | |||||||||||||||||||
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Period from January 1, 2014 to March 31, 2014 |
Period from July 24, 2013 to December 31, 2013 |
Period from January 1, 2013 to July 23, 2013 |
Year ended December 31, 2012 |
Year ended December 31, 2011 |
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| EARNINGS |
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| Add: |
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| Loss before equity in income from unconsolidated real estate entities |
$ | (762,000 | ) | $ | (1,102,000 | ) | $ | (7,279,000 | ) | $ | (8,436,000 | ) | $ | (7,619,000 | ) | |||||
| Fixed charges (See below) |
1,274,000 | 1,791,373 | 9,415,287 | 16,950,268 | 17,535,424 | |||||||||||||||
| Subtract: |
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| Capitalized interest |
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| Earnings (loss) |
512,000 | 689,373 | 2,136,287 | 8,514,268 | 9,916,424 | |||||||||||||||
| FIXED CHARGES (SEE BELOW) |
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| Interest expense |
1,251,000 | 1,763,000 | 9,395,000 | 16,875,000 | 17,466,000 | |||||||||||||||
| Capitalized interest |
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| Rental expense at computed interest factor (1) |
23,000 | 28,373 | 20,287 | 75,268 | 69,424 | |||||||||||||||
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| Total fixed charges |
$ | 1,274,000 | $ | 1,791,373 | $ | 9,415,287 | $ | 16,950,268 | $ | 17,535,424 | ||||||||||
| Consolidated ratio of earnings (loss) to fixed charges |
0.40 | 0.38 | 0.23 | 0.50 | 0.57 | |||||||||||||||
| (1) | Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs. |