EX-12.2 3 skt10q3312017ex12210-qonly.htm EXHIBIT 12.2 Exhibit
Exhibit 12.2

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

 
Three months ended March 31,
 
2017
 
2016
Earnings:
 
 
 
Income before equity in earnings of unconsolidated joint ventures and noncontrolling interests (1)
$
21,196

 
$
25,118

Add:
 
 
 
Distributed income of unconsolidated joint ventures
2,473

 
2,709

Amortization of capitalized interest
170

 
158

Interest expense
16,487

 
14,884

Portion of rent expense - interest factor
609

 
609

Total earnings
40,935

 
43,478

 
 
 
 
Fixed charges:
 
 
 
Interest expense
16,487

 
14,884

Capitalized interest and capitalized amortization of debt issue costs
520

 
507

Portion of rent expense - interest factor
609

 
609

Total fixed charges
$
17,616

 
$
16,000

 
 
 
 
Ratio of earnings to fixed charges
2.3

 
2.7


(1)
Income before equity in earnings of unconsolidated joint ventures and noncontrolling interests includes a $4.9 million gain on the sale of our outlet center in Fort Myers, Florida for the period ended March 31, 2016.