EX-99.2 4 b324707_ex99-2.txt CALCULATION OF EARNINGS TO CHARGES Exhibit 99.2 Kimco Realty Corporation and Subsidiaries Computation of Ratio of Earnings to Fixed Charges For the three months ended March 31, 2003 Pretax earnings from continuing operations $ 69,319,084 Less: Income or loss from equity investees (13,216,590) ------------ Adjusted pretax earnings from continuing operations 56,102,494 Add: Interest on indebtedness 22,120,727 Amortization of debt related expenses 875,519 Portion of rents representative of the interest factor 1,350,666 ------------ 80,449,406 Distrubuted income from equity investees 7,055,751 ------------ Pretax earnings from continuing operations, as adjusted $ 87,505,157 Fixed charges - Interest on indebtedness $ 24,284,608 Amortization of debt related expenses 732,196 Portion of rents representative of the interest factor 1,350,666 ------------ Fixed charges $ 26,367,470 Ratio of earnings to fixed charges 3.3 Kimco Realty Corporation and Subsidiaries Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends For the three months ended March 31, 2003 Pretax earnings from continuing operations $ 69,319,084 Less: Income or loss from equity investees (13,216,590) Adjusted pretax earnings from continuing operations 56,102,494 Add: Interest on indebtedness (excluding capitalized interest) 22,120,727 Amortization of debt related expenses 875,519 Portion of rents representative of the interest factor 1,350,666 ------------ 80,449,406 Distrubuted income from equity investees 7,055,751 ------------ Pretax earnings from continuing operations, as adjusted $ 87,505,157 Combined fixed charges and preferred stock dividends - Interest on indebtedness $ 24,284,608 Preferred stock dividends 4,609,425 Amortization of debt related expenses 732,196 Portion of rents representative of the interest factor 1,350,666 ------------ Combined fixed charges and preferred stock dividends $ 30,976,895 Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 2.8