EX-12 5 y84413exv12.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS Exhibit 12 Lexington Corporate Properties Trust Ratio of earnings to combined fixed charges and preferred dividends For the years ended December 31, ($000's)
2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- Earnings Income before extraordinary items $ 30,940 $ 21,206 $ 21,952 $ 21,347 $ 15,737 Interest expense 33,502 29,732 29,581 29,099 23,055 Amortization expense - debt cost 1,218 987 1,067 971 933 Equity in earnings from joint ventures (4,561) (3,502) (1,428) (61) (52) Cash received from joint ventures 5,660 4,110 810 -- 3 -------- -------- -------- -------- -------- Total $ 66,759 $ 52,533 $ 51,982 $ 51,356 $ 39,676 ======== ======== ======== ======== ======== Fixed Charges Interest expense $ 33,502 $ 29,732 $ 29,581 $ 29,099 $ 23,055 Capitalized interest expense 24 168 241 -- -- Preferred stock dividend 693 2,667 2,562 2,520 2,254 Amortization expense - debt cost 1,218 987 1,067 971 933 -------- -------- -------- -------- -------- Total $ 35,437 $ 33,554 $ 33,451 $ 32,590 $ 26,242 ======== ======== ======== ======== ======== Ratio 1.88 1.57 1.55 1.58 1.51 ======== ======== ======== ======== ========