EX-12.1 5 exhibit121-statementofcalc.htm EXHIBIT 12.1 Exhibit 12.1 - Statement of Calculation of Consolidated Ratio of Earnings to Fixed Charges
Exhibit 12.1
Whitestone REIT
Calculation of Consolidated Ratio of Earnings to Fixed Charges
(dollars in thousands) (unaudited)



 
Three Months Ended
Year Ended December 31,
 
March 31, 2012
2011
2010
2009
2008
2007
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
Income (Loss) from continuing operations
$
860

$
1,333

$
1,575

$
2,075

$
(1,676
)
$
(712
)
Plus: Taxes
65

225

264

222

219

217

Plus: Fixed Charges
2,017

6,344

6,040

6,189

7,302

5,792

Less: Capitalized Interest
—

—

—

—

(373
)
(144
)
Total Earnings
$
2,942

$
7,902

$
7,879

$
8,486

$
5,472

$
5,153

 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
Interest Expense
$
1,712

$
5,728

$
5,620

$
5,749

$
5,857

$
5,402

Plus: Capitalized Interest
44

—

—

—

373

144

Plus: Amortization of deferred financing cost
261

616

420

440

1,072

246

Total Fixed Charges
$
2,017

$
6,344

$
6,040

$
6,189

$
7,302

$
5,792

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
1.46

1.25

1.30

1.37

0.75

0.89