EX-12 2 a06-16644_1ex12.htm EX-12

Exhibit 12

Statement re: Calculation of Ratios of Earnings to
Combined Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)

 

 

Three Months
Ended
March 31,
2006

 

Year Ended
December 31,
2005

 

Year Ended
December 31,
2004

 

Year Ended
December 31,
 2003

 

Year Ended
December 31,
2002

 

Year Ended
December 31,
2001

 

Net income from continuing operationsless preferred distributions

 

$

14,032

 

$

93,511

 

$

110,945

 

$

114,620

 

$

120,725

 

$

178,529

 

Preferred distributions

 

12,712

 

46,479

 

33,777

 

37,321

 

45,053

 

52,442

 

Minority interest in earnings of common unitholders

 

1,253

 

9,400

 

11,608

 

12,426

 

12,958

 

24,844

 

Interest expense

 

38,655

 

119,640

 

109,297

 

100,047

 

86,844

 

82,570

 

Earnings before fixed charges

 

$

66,652

 

$

269,030

 

$

265,627

 

$

264,414

 

$

265,580

 

$

338,385

 

Interest expense

 

$

38,655

 

$

119,640

 

$

109,297

 

$

100,047

 

$

86,844

 

$

82,570

 

Interest costs capitalized

 

5,580

 

9,510

 

5,961

 

6,734

 

13,529

 

25,859

 

Total fixed charges

 

$

44,235

 

$

129,150

 

$

115,258

 

$

106,781

 

$

100,373

 

$

108,429

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred distributions

 

$

12,712

 

$

46,479

 

$

33,777

 

$

37,321

 

$

45,053

 

$

52,442

 

Total fixed charges and preferred distributions

 

$

56,947

 

$

175,629

 

$

149,035

 

$

144,102

 

$

145,426

 

$

160,871

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.51

 

2.08

 

2.30

 

2.48

 

2.65

 

3.12

 

Ratio of Earnings to Combined Fixed Charges and Preferred Distributions

 

1.17

 

1.53

 

1.78

 

1.83

 

1.83

 

2.10