EX-12.1 3 a50614580ex12-1.htm EXHIBIT 12.1 a50614580ex12-1.htm
Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
For the three months ended March 31, 2013 and 2012.
             
   
Three Months Ended March 31,
  
   
2013
    
2012
  
   
(In thousands, except ratio computation)
  
Pretax gain from continuing operations before adjustment for noncontrolling interest
   $ 5,130     $ 1,934  
                 
Add back:
                
Fixed charges
     6,810       7,307  
Distributed income of equity investees
     2,723       973  
                 
Deduct:
                
Equity in earnings of equity investees
     5,674       (496 )
Capitalized interest
     (325 )     (233 )
Earnings as Defined
   $ 20,012     $ 9,485  
                 
Fixed Charges
                
Interest expense including amortization of deferred financing fees
   $ 6,414     $ 7,003  
Capitalized interest
     325       233  
Interest portion of rent expense
     71       71  
Fixed Charges
     6,810       7,307  
Preferred share dividends
     1,812       1,812  
Combined Fixed Charges and Preferred Dividends
   $ 8,622     $ 9,119  
                 
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
     2.32       1.04