EXHIBIT 12.1 - Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends - CorEnergy Infrastructure Trust, Inc.

 
Three Months Ended March 31,
 
Year Ended December 31,
 
Year Ended November 30,
 
One-Month Transition Period Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
 
2010
 
2012
Ratio of earnings to combined fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges(1)
$
1,147,272

 
$
3,675,122

 
$
3,288,378

 
$
81,123

 
$
36,508

 
$
45,619

 
$
416,137

Preferred stock dividends(2)
737,500

 
—

 
—

 
—

 
—

 
—

 
—

Combined fixed charges and preferred stock dividends
1,884,772

 
3,675,122

 
3,288,378

 
81,123

 
36,508

 
45,619

 
416,137

Net income (loss) available to common shareholders before provision for income taxes
3,349,128

 
7,013,856

 
4,502,339

 
12,348,721

 
2,922,143

 
14,666,874

 
(1,503,396
)
Earnings
$
5,233,900

 
$
10,688,978

 
$
7,790,717

 
$
12,429,844

 
$
2,958,651

 
$
14,712,493

 
$
(1,087,259
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred stock dividends
2.78

 
2.91

 
2.37

 
153.22

 
81.04

 
322.51

 
(2.61
)
(1)
Fixed charges consist of interest expense, as defined under U.S. generally accepted accounting principles, on all indebtedness
(2)    This line represents the amount of preferred stock dividends accumulated as of March 31, 2015