EX-12 2 a06-23954_1ex12.htm EX-12

Exhibit 12

 

Statement re: Calculation of Ratios of Earnings to

Combined Fixed Charges and Preferred Unit Distributions

(Dollars in thousands)

 

 

 

Nine Months Ended
September 30,
2006

 

Year
Ended
December 31, 2005

 


Year Ended
December 31, 2004

 


Year Ended
December 31, 2003

 


Year Ended
December 31, 2002

 


Year Ended
December 31, 2001

 

Net income from continuing operations less preferred distributions

 

$

56,988

 

$

102,815

 

$

118,355

 

$

123,437

 

$

130,070

 

$

200,784

 

Preferred distributions

 

41,193

 

46,479

 

33,777

 

39,225

 

52,613

 

60,850

 

Interest expense

 

133,288

 

116,716

 

107,158

 

98,325

 

85,697

 

81,767

 

Earnings before fixed charges

 

$

231,469

 

$

266,010

 

$

259,290

 

$

260,987

 

$

268,380

 

$

343,401

 

Interest expense

 

$

133,288

 

$

116,716

 

$

107,158

 

$

98,325

 

$

85,697

 

$

81,767

 

Interest costs capitalized

 

24,567

 

9,510

 

5,961

 

6,734

 

13,529

 

25,859

 

Total fixed charges

 

$

157,855

 

$

126,226

 

$

113,119

 

$

105,059

 

$

99,226

 

$

107,626

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred distributions

 

$

41,193

 

$

46,479

 

$

33,777

 

$

39,225

 

$

52,613

 

$

60,850

 

Total fixed charges and preferred distributions

 

$

199,048

 

$

172,705

 

$

146,896

 

$

144,284

 

$

151,839

 

$

168,476

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.47

 

2.11

 

2.29

 

2.48

 

2.70

 

3.19

 

Ratio of Earnings to Combined Fixed Charges and Preferred Distributions

 

1.16

 

1.54

 

1.77

 

1.81

 

1.77

 

2.04