EX-12.1
Published on April 11, 2016
Exhibit 12.1
REXFORD INDUSTRIAL REALTY, INC.
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| Rexford Industrial Realty, Inc. |
Rexford Industrial Realty, Inc. Predecessor |
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Year ended December 31, 2015 |
Year ended December 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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| Gain (loss) from continuing operations before adjustment for income or loss from equity investees |
$ | 1,857 | $ | (1,141 | ) | $ | (1,102 | ) | $ | (7,279 | ) | $ | (8,436 | ) | $ | (7,619 | ) | |||||||
| Fixed charges (see below) |
9,361 | 6,534 | 1,791 | 9,415 | 16,950 | 17,535 | ||||||||||||||||||
| Distributed income of equity investees |
| 1,689 | | | | | ||||||||||||||||||
| Subtract: |
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| Capitalized interest |
(754 | ) | (42 | ) | | | | | ||||||||||||||||
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| Earnings |
$ | 10,464 | $ | 7,040 | $ | 689 | $ | 2,136 | $ | 8,514 | $ | 9,916 | ||||||||||||
| Fixed Charges |
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| Interest expense |
8,453 | 6,400 | 1,763 | 9,395 | 16,875 | 17,466 | ||||||||||||||||||
| Capitalized interest |
754 | 42 | | | | | ||||||||||||||||||
| Rental expense at computed interest factor(1) |
154 | 92 | 28 | 20 | 75 | 69 | ||||||||||||||||||
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| Fixed charges |
$ | 9,361 | $ | 6,534 | $ | 1,791 | $ | 9,415 | $ | 16,950 | $ | 17,535 | ||||||||||||
| Consolidated ratio of earnings (loss) to fixed charges |
1.12 | 1.08 | 0.38 | 0.23 | 0.50 | 0.57 | ||||||||||||||||||
| Inadequate amount |
$ | | $ | | $ | (1,102 | ) | $ | (7,279 | ) | $ | (8,436 | ) | $ | (7,619 | ) | ||||||||
| (1) | Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs. |