EX-12.1 6 c12726exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1
ENTERTAINMENT PROPERTIES TRUST
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
                                         
    Year Ended December 31,  
    2006     2005     2004     2003     2002  
Earnings:
                                        
Income before gain on sale of land, income from joint ventures and minority interests
   $ 81,185     $ 68,366     $ 54,012     $ 38,748     $ 30,731  
Fixed charges
     49,092       44,203       41,678       32,293       26,141  
Distributions from equity investments
     874       855       811       486       1,738  
Capitalized interest
     (100 )     (160 )     (688 )     (832 )     (961 )
 
                              
Adjusted Earnings
   $ 131,051     $ 113,264     $ 95,813     $ 70,695     $ 57,649  
 
                              
Fixed Charges:
                                        
Interest expense, net (including amortization of deferred financing fees)
   $ 47,438     $ 42,427     $ 38,054     $ 30,570     $ 24,475  
Interest income
     1,554       1,616       2,936       891       705  
Capitalized interest
     100       160       688       832       961  
 
                              
Total Fixed Charges
   $ 49,092     $ 44,203     $ 41,678     $ 32,293     $ 26,141  
 
                              
Ratio of Earnings to Fixed Charges
     2.7x       2.6x       2.3x       2.2x       2.2x