EX-12 3 y47282ex12.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS 1 Exhibit 12 Lexington Corporate Properties Trust Ratio of earnings to combined fixed charges and preferred dividends
For the year ended December 31, ------------------------------ 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- EARNINGS -------- Income before extraordinary items $ 21,952,267 $ 21,346,854 $ 15,737,265 $ 11,781,810 $ 5,465,824 Interest expense 29,581,324 29,098,915 23,054,531 16,644,044 12,817,528 Amortization expense - debt cost 1,066,668 970,720 933,021 822,552 566,142 Equity in earnings from joint ventures (1,427,506) (60,959) (52,172) (35,836) (12,735) Cash received from joint ventures 809,842 3,385 3,385 3,385 ---------- ---------- ---------- ---------- ---------- Total $ 51,982,595 $ 51,355,530 $ 39,676,030 $ 29,215,955 $ 18,840,144 ========== ========== ========== ========== ========== FIXED CHARGES ------------- Interest expense $ 29,581,324 $ 29,098,915 $ 23,054,531 $ 16,644,044 $ 12,817,528 Capitalized interest expense 240,500 -- -- -- -- Preferred stock dividend 2,562,000 2,520,000 2,253,697 916,242 -- Amortization expense - debt cost 1,066,668 970,720 933,021 822,552 566,142 ---------- ---------- ---------- ---------- ---------- Total $ 33,450,492 $ 32,589,635 $ 26,241,249 $ 18,382,838 $ 13,383,670 ========== ========== ========== ========== ========== RATIO 1.55 1.58 1.51 1.59 1.41 ==== ==== ==== ==== ====