EX-12 4 ex121.txt EXH 12.1 Exhibit 12.1 ------------ Equity One, Inc. Ratio of Earnings to Fixed Charges For the year ended December 31, 2003
Net income ........................................................ $ 63,647 Adjustments: Minority interest............................................... $ 803 Equity in loss of joint ventures................................ 126 Income from discontinued operations ............................ (5,894) Distributed income of equity investees ......................... 90 (4,875) ---------- Fixed Charges: Interest cost.................................................... 45,146 Northport interest............................................... 43 Capitalized interest............................................. 3,822 Amortization of market value adjustment.......................... (3,541) Amortization of loan fees........................................ 1,111 46,581 ---------- Less: interest capitalized....................................... (3,822) Northport interest............................................... (43) (3,865) ---------- ----------- Earnings, as defined............................................... $ 101,488 =========== Divide by fixed charges............................................ $ 46,581 =========== Ratio of earnings to fixed charges................................. 2.18 ===========