EX-12 8 ex12.txt EXHIBIT 12 EXHIBIT 12 Pennsylvania Real Estate Investment Trust Statement Regarding Calculation of Ratio of Earnings to Fixed Charges Dollars in thousands
12/31/2001 12/31/2000 12/31/1999 03/31/2002 03/31/2001 ----------------------------------------------------------------------- Net income $19,789 $32,254 $20,739 $ 3,727 $ 5,092 Fixed charges less capitalized interest 36,255 34,251 31,940 8,636 9,251 Minority interest 2,524 3,784 2,122 448 656 Gains on property sales (2,107) (10,298) (1,763) - (1,806) ----------------------------------------------------------------------- Total earnings $56,461 $59,991 $53,038 $12,811 $13,193 Fixed charges Interest expense $24,963 $23,886 $22,212 $ 5,846 $ 6,639 Capitalized interest 3,018 4,457 2,311 626 923 Unconsolidated properties' fixed charges 10,921 10,094 9,323 2,790 2,612 Amortization of cap. expenses 371 271 405 -- -- ----------------------------------------------------------------------- Total fixed charges $39,273 $38,708 $34,251 $ 9,262 $10,174 ======================================================================= Ratio of earnings to fixed charges 1.44 1.55 1.55 1.38 1.30 =======================================================================