EX-12.A 5 a2084486zex-12_a.txt EXHIBIT 12(A) EXHIBIT 12(a) RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS TANGER FACTORY OUTLET CENTERS, INC. TANGER PROPERTIES LIMITED PARTNERSHIP (dollar amounts in thousands)
Three Months Ended March 31, Year Ended December 31, 2002 2001 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- ---- ---- Income before gain or (loss) on sale of real estate, minority interest and extraordinary items 1,827 1,110 9,492 12,249 17,070 15,109 17,583 Add: Interest on indebtedness 6,829 7,000 28,506 26,301 23,234 20,952 15,741 Amortization of debt issue costs 300 633 1,628 1,264 1,005 1,076 1,094 Portion of Rent Expense 153 156 606 535 423 240 166 ------------------- ---------------------------------------------- Income as adjusted 9,109 8,899 40,232 40,349 41,732 37,377 34,584 ------------------- ---------------------------------------------- Fixed Charges Interest on indebtedness 6,829 7,000 28,506 26,301 23,234 20,952 15,741 Amortization of debt issue costs 300 633 1,628 1,264 1,005 1,076 1,094 Capitalized interest and amortization of debt issue costs 82 405 583 1,076 1,298 798 2,008 Portion of Rent Expense 153 156 606 535 423 240 166 Preferred dividends 444 442 1,771 1,823 1,917 1,911 1,808 ------------------- ---------------------------------------------- Total combined fixed charges and preferred share dividends 7,808 8,636 33,094 30,999 27,877 24,977 20,817 ------------------- ---------------------------------------------- Ratio of earnings to combined fixed charges and preferred share dividends 1.17 1.03 1.22 1.30 1.50 1.50 1.66 =================== ==============================================