EX-12 13 y94559exv12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 LEXINGTON CORPORATE PROPERTIES TRUST RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS FOR THE YEAR ENDED DECEMBER 31, ($000'S)
2003 2002 2001 2000 1999 ------- ------- ------- ------- ------- Earnings Income from continuing operations............ $30,847 $28,504 $17,286 $21,328 $20,682 Interest expense............................. 42,084 33,506 32,906 28,936 28,390 Amortization expense - debt cost............. 1,594 1,210 1,394 1,054 958 Equity in earnings from joint ventures....... (5,391) (4,561) (3,502) (1,428) (61) Cash received from joint ventures............ 7,823 5,660 4,110 810 -- ------- ------- ------- ------- ------- Total........................................ $76,957 $64,319 $52,194 $50,700 $49,969 ======= ======= ======= ======= ======= Fixed Charges Interest expense............................. $42,084 $33,506 $32,906 $28,936 $28,390 Capitalized interest expense................. 142 24 168 241 -- Preferred stock dividend..................... 3,392 693 2,709 2,562 2,520 Amortization expense - debt cost............. 1,594 1,210 1,394 1,054 958 ------- ------- ------- ------- ------- Total........................................ $47,212 $35,433 $37,177 $32,793 $31,868 ======= ======= ======= ======= ======= Ratio........................................ 1.63 1.82 1.40 1.55 1.57 ======= ======= ======= ======= =======