EX-12.1 5 rpt_ex121.htm EXHIBIT 12.1 RPT_Ex12.1


Exhibit 12.1

 
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
 
 
 
For the three and six months ended June 30, 2013 and 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
 
2013
 
2012
 
2013
 
2012
 
 
 
 
(In thousands, except ratio computation)
 
Pretax gain from continuing operations before adjustment for noncontrolling interest
 
$4,317
 
$1,562
 
$9,447
 
$3,496
 
 
 
 
 
 
 
 
 
 
 
 
Add back:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
7,830

 
7,186

 
14,640

 
14,493

 
 
Distributed income of equity investees
 
762

 
1,649

 
3,485

 
2,622

 
 
 
 
 
 
 
 
 
 
 
 
Deduct:
 
 
 
 
 
 
 
 
 
 
Equity in earnings of equity investees
 
(260
)
 
(580
)
 
5,414

 
(1,076
)
 
 
Capitalized interest
 
(132
)
 
(280
)
 
(457
)
 
(513
)
 
Earnings as Defined
 
$12,517
 
$9,537
 
$32,529
 
$19,022
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense including amortization of deferred financing fees
 
$7,642
 
$6,829
 
$14,056
 
$13,832
 
 
Capitalized interest
 
132

 
280

 
457

 
513

 
 
Interest portion of rent expense
 
56

 
77

 
127

 
148

 
Fixed Charges
 
7,830

 
7,186

 
14,640

 
14,493

 
 
Preferred share dividends
 
1,813

 
1,813

 
3,625

 
3,625

 
Combined Fixed Charges and Preferred Dividends
 
$9,643
 
$8,999
 
$18,265
 
$18,118
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
 
1.30

 
1.06

 
1.78

 
1.05