|
Statement of Computation of Ratio of Earnings
|
||||||||||||||||||||||||
|
Drive Shack Inc.
|
||||||||||||||||||||||||
|
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
|
||||||||||||||||||||||||
|
(Amounts in 000's, except ratios)
|
Nine Months Ended
|
Years Ended December 31,
|
||||||||||||||||||||||
| September 30, 2017 |
2016
|
2015
|
2014
|
2013
|
2012
|
|||||||||||||||||||
|
Pre-tax income (loss) from continuing operations before adjustment for income (loss) from equity investees
|
$
|
(17,082
|
)
|
$
|
77,525
|
$
|
21,253
|
$
|
67,791
|
$
|
139,725
|
$
|
403,645
|
|||||||||||
|
Fixed charges, as defined (A)
|
15,335
|
52,868
|
62,129
|
80,022
|
78,601
|
108,236
|
||||||||||||||||||
|
Distributed income (loss) of equity investees
|
-
|
-
|
-
|
-
|
1,069
|
-
|
||||||||||||||||||
|
Earnings, as defined
|
$
|
(1,747
|
)
|
$
|
130,393
|
$
|
83,382
|
$
|
147,813
|
$
|
219,395
|
$
|
511,881
|
|||||||||||
|
Combined fixed charges and preferred dividends, as defined (B)
|
19,520
|
58,448
|
67,709
|
85,602
|
84,181
|
113,816
|
||||||||||||||||||
|
Ratio of Earnings to Combined Fixed Charges
|
(C)
|
2.23
|
1.23
|
1.73
|
2.61
|
4.50
|
||||||||||||||||||
|
Drive Shack Inc.
|
||||||||||||||||||||||||
|
Ratio of Earnings to Fixed Charges
|
||||||||||||||||||||||||
|
Nine Months Ended
|
Years Ended December 31,
|
|||||||||||||||||||||||
|
(Amounts in 000's, except ratios)
|
September 30, 2017
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||||||
|
Pre-tax income (loss) from continuing operations before adjustment for income (loss) from equity investees
|
$
|
(17,082
|
)
|
$
|
77,525
|
$
|
21,253
|
$
|
67,791
|
$
|
139,725
|
$
|
403,645
|
|||||||||||
|
Fixed charges, as defined (A)
|
15,335
|
52,868
|
62,129
|
80,022
|
78,601
|
108,236
|
||||||||||||||||||
|
Distributed income (loss) of equity investees
|
-
|
-
|
-
|
-
|
1,069
|
-
|
||||||||||||||||||
|
Earnings, as defined
|
$
|
(1,747
|
)
|
$
|
130,393
|
$
|
83,382
|
$
|
147,813
|
$
|
219,395
|
$
|
511,881
|
|||||||||||
|
Fixed charges, as defined (A)
|
15,335
|
52,868
|
62,129
|
80,022
|
78,601
|
108,236
|
||||||||||||||||||
|
Ratio of Earnings to Fixed Charges
|
(D)
|
2.47
|
1.34
|
1.85
|
2.79
|
4.73
|
||||||||||||||||||
|
(A) Fixed charges, as defined:
|
||||||||||||||||||||||||
|
Interest expense
|
$
|
15,335
|
$
|
52,868
|
$
|
62,129
|
$
|
80,022
|
$
|
78,601
|
$
|
108,236
|
||||||||||||
|
Fixed charges, as defined
|
$
|
15,335
|
$
|
52,868
|
$
|
62,129
|
$
|
80,022
|
$
|
78,601
|
$
|
108,236
|
||||||||||||
|
(B) Combined fixed charges and
|
||||||||||||||||||||||||
|
preferred dividends, as defined:
|
||||||||||||||||||||||||
|
Interest expense
|
$
|
15,335
|
$
|
52,868
|
$
|
62,129
|
$
|
80,022
|
$
|
78,601
|
$
|
108,236
|
||||||||||||
|
Preferred dividends
|
4,185
|
5,580
|
5,580
|
5,580
|
5,580
|
5,580
|
||||||||||||||||||
|
Combined fixed charges as defined
|
$
|
19,520
|
$
|
58,448
|
$
|
67,709
|
$
|
85,602
|
$
|
84,181
|
$
|
113,816
|
||||||||||||
|
(C) Earnings for the nine months ended September 30, 2017 were inadequate to cover fixed charges by $21,267.
|
|
(D) Earnings for the nine months ended September 30, 2017 were inadequate to cover fixed charges by $17,082.
|