EX-12 8 comp.txt EX. 12.1 COMPUTATION OF RATIOS Exhibit 12.1 Statement Regarding Computation of Ratios of Earnings to Fixed Charges
Statement Regarding Computation of Ratios of Earnings to Fixed Charges 2002 2001 2000 1999 1998 -------------------------------------------------------------- Fixed charges: Interest expensed $ 11,017 $ 12,370 $ 15,877 $ 13,686 $ 9,532 Interest capitalized 931 372 439 1,299 857 Amortization of capitalized fees related to indebtedness 773 578 649 532 495 Distributions to preferred Operating Partnership unitholders 199 199 199 23 - -------------------------------------------------------------- Total fixed charges $ 12,920 $ 13,519 $ 17,164 $ 15,540 $ 10,884 ============================================================== Earnings: Continuing operations before minority interest and income from equity investees $ 12,986 $ 6,473 $ 6,346 $ 5,939 $ (7,488) Add: Total fixed charges above 12,920 13,519 17,164 15,540 10,884 Distributions of income from equity investees 1,049 1,252 1,324 637 - Subtract: Capitalized interest (931) (372) (439) (1,299) (857) Distributions to preferred Operating Partnership unitholders (199) (199) (199) (23) - -------------------------------------------------------------- Total earnings $ 25,825 $ 20,673 $ 24,196 $ 20,794 $ 2,539 ============================================================== Ratio of Earnings to Fixed Charges 2.00 1.53 1.41 1.34 0.23 ==============================================================