EX-12.2 5 skt10q9302013ex122.htm EXHIBIT SKT 10Q 9.30.2013 EX 12.2


Exhibit 12.2

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
Nine months ended
September 30,
 
2013
 
2012
Earnings:
 
 
 
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests (1)
$
80,078

 
$
40,336

Add:
 
 
 
Distributed income of unconsolidated joint ventures
4,415

 
740

Amortization of capitalized interest
384

 
382

Interest expense
37,826

 
37,062

Portion of rent expense - interest factor
1,527

 
1,552

Total earnings
124,230

 
80,072

 
 
 
 
Fixed charges:
 
 
 
Interest expense
37,826

 
37,062

Capitalized interest and capitalized amortization of debt issue costs
976

 
1,031

Portion of rent expense - interest factor
1,527

 
1,552

Total fixed charges
$
40,329

 
$
39,645

 
 
 
 
Ratio of earnings to fixed charges
3.1

 
2.0

1.
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests for the period ended September 30, 2013, includes a $26.0 million gain on a previously held interest in an acquired joint venture.