EX-12.2 3 c24077exv12w2.htm COMUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS exv12w2
 

EXHIBIT 12.2
ENTERTAINMENT PROPERTIES TRUST
COMPUTATION OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
(dollars in thousands)
                                         
    Year Ended December 31,  
    2007     2006     2005     2004     2003  
Earnings:
                                        
 
Income before gain on sale of land, income from joint ventures and minority interests
   $ 97,499     $ 80,647     $ 68,300     $ 53,836     $ 38,603  
Fixed charges before preferred distributions
     61,376       49,092       44,203       41,678       32,293  
Distributions from equity investments
     1,239       874       855       811       486  
Capitalized interest
     (494 )     (100 )     (160 )     (688 )     (832 )
 
                              
 
                                        
Adjusted Earnings
   $ 159,620     $ 130,513     $ 113,198     $ 95,637     $ 70,550  
 
                              
 
                                        
Fixed Charges:
                                        
 
                                        
Interest expense, net (including amortization of deferred financing fees)
   $ 60,505     $ 48,866     $ 43,749     $ 40,011     $ 31,022  
Interest income
     377       126       294       979       439  
Capitalized interest
     494       100       160       688       832  
Preferred distributions
     21,312       11,857       11,353       6,213       6,963  
 
                              
 
                                        
Combined Fixed Charges and Preferred Distributions
   $ 82,688     $ 60,949     $ 55,556     $ 47,891     $ 39,256  
 
                              
 
                                        
Ratio of Earnings to Combined Fixed Charges and Preferred Distributions
       1.9x         2.1x         2.0x         2.0x         1.8x