EX-12 5 ex12-1.txt EX. 12.1-RATIO OF EARNINGS Exhibit 12.1 Lexington Corporate Properties Trust Ratio of earnings to combined fixed charges and preferred dividends ($000's)
For the years ended December 31, --------------------------------------------------------- Six Months Ended June 30, 2003 2002 2001 2000 1999 1998 -------------------------------------------------------------------- Earnings Income from continuing operations $ 9,801 $ 28,716 $ 17,499 $ 21,495 $ 20,828 $ 15,134 Interest expense 25,416 33,920 33,198 29,266 28,754 22,893 Amortization expense - debt cost 1,624 1,218 1,404 1,064 968 930 Equity in earnings from joint ventures (2,596) (4,561) (3,502) (1,428) (61) (52) Cash received from joint ventures 2,436 5,660 4,110 810 -- 3 -------- -------- -------- -------- -------- -------- Total $ 36,681 $ 64,953 $ 52,709 $ 51,207 $ 50,489 $ 38,908 ======== ======== ======== ======== ======== ======== Fixed Charges Interest expense $ 25,416 $ 33,920 $ 33,198 $ 29,266 $ 28,754 $ 22,893 Capitalized interest expense 48 24 168 241 -- -- Preferred stock dividend 212 693 2,667 2,562 2,520 2,254 Amortization expense - debt cost 1,624 1,218 1,404 1,064 968 930 -------- -------- -------- -------- -------- -------- Total $ 27,300 $ 35,855 $ 37,437 $ 33,133 $ 32,242 $ 26,077 ======== ======== ======== ======== ======== ======== Ratio 1.34 1.81 1.41 1.55 1.57 1.49 ======== ======== ======== ======== ======== ========