EX-12.1 2 rpt_ex121x2014331-q1.htm EXHIBIT 12.1 RPT_Ex12.1_2014.3.31-Q1


Exhibit 12.1

 
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31,
 
 
 
 
2014
 
2013
 
 
 
 
(In thousands, except ratio computation)
 
Pretax gain from continuing operations before adjustment for noncontrolling interest
 
$2,761
 
$4,827
 
 
 
 
 
 
 
 
Add back:
 
 
 
 
 
 
Fixed charges
 
8,436

 
6,810

 
 
Distributed income of equity investees
 
783

 
2,723

 
 
Equity in loss of equity investees
 
1,607

 
5,674

 
 
 
 
 
 
 
 
Deduct:
 
 
 
 
 
 
Capitalized interest
 
(381
)
 
(325
)
 
Earnings as Defined
 
$13,206
 
$19,709
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
Interest expense including amortization of deferred financing fees
 
$8,002
 
$6,414
 
 
Capitalized interest
 
381

 
325

 
 
Interest portion of rent expense
 
53

 
71

 
Fixed Charges
 
8,436

 
6,810

 
 
Preferred share dividends
 
1,812

 
1,812

 
Combined Fixed Charges and Preferred Dividends
 
$10,248
 
$8,622
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
 
1.29

 
2.29