EX-12.2 7 c12726exv12w2.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES exv12w2
 

EXHIBIT 12.2
ENTERTAINMENT PROPERTIES TRUST
COMPUTATION OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
(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 before preferred distributions
     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  
Preferred distributions
     11,857       11,353       6,213       6,963       4,420  
 
                              
Combined Fixed Charges and Preferred Distributions
   $ 60,949     $ 55,556     $ 47,891     $ 39,256     $ 30,561  
 
                              
Ratio of Earnings to Combined Fixed Charges and Preferred Distributions
     2.2x       2.0x       2.0x       1.8x       1.9x