EX-99.2 4 b400737_ex99-2.txt CALCULATION OF RATIO EARNINGS Exhibit 99.2 Kimco Realty Corporation and Subsidiaries Computation of Ratio of Earnings to Fixed Charges For the six months ended June 30, 2004 Pretax earnings from continuing operations before adjustment for minority interests or income loss from equity investees $ 113,697,162 Add: Interest on indebtedness (excluding capitalized interest) 56,142,350 Amortization of debt related expenses 706,361 Portion of rents representative of the interest factor 2,832,875 --------------- 173,378,748 Distributed income from equity investees 44,242,754 --------------- Pretax earnings from continuing operations, as adjusted $217,621,502 =============== Fixed charges - Interest on indebtedness (including capitalized interest) $60,747,480 Amortization of debt related expenses 221,033 Portion of rents representative of the interest factor 2,832,875 --------------- Fixed charges $63,801,388 =============== Ratio of earnings to fixed charges 3.4 ===============
Kimco Realty Corporation and Subsidiaries Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends For the six months ended June 30, 2004 Pretax earnings from continuing operations before adjustment for minority interests or income loss from equity investees $ 113,697,162 Add: Interest on indebtedness (excluding capitalized interest) 56,142,350 Amortization of debt related expenses 706,361 Portion of rents representative of the interest factor 2,832,875 --------------- 173,378,748 Distributed income from equity investees 44,242,754 --------------- Pretax earnings from continuing operations, as adjusted $217,621,502 =============== Combined fixed charges and preferred stock dividends - Interest on indebtedness (including capitalized interest) $60,747,480 Preferred stock dividends 5,818,750 Amortization of debt related expenses 221,033 Portion of rents representative of the interest factor 2,832,875 --------------- Combined fixed charges and preferred stock dividends $69,620,138 =============== Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 3.1 ===============