EX-12 6 s10k-121.txt EXHIBIT 12.1 EXHIBIT 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES YEAR ENDED DECEMBER 31, ---------------------------------------------------- 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Earnings before fixed charges Income before extraordinary item $185,708 $181,583 $155,993 $116,677 $ 68,969 Add: Interest expense 107,991 104,229 94,712 74,155 46,521 Depreciation expense on capitalized interest 2,311 1,809 1,396 1,001 650 Amortization of deferred financing costs 4,015 4,066 4,951 4,462 4,448 -------- -------- -------- -------- -------- Earnings before fixed charges $300,025 $291,687 $257,052 $196,295 $120,588 ======== ======== ======== ======== ======== Fixed charges: Interest expense 107,991 104,229 94,712 74,155 46,521 Amortization of deferred financing charges 4,015 4,066 4,951 4,462 4,448 Capitalized interest 22,347 17,784 15,288 16,317 11,802 -------- -------- -------- -------- -------- Fixed charges $134,353 $126,079 $114,951 $ 94,934 $ 62,771 -------- -------- -------- -------- -------- Preferred share distributions 11,000 11,000 11,000 11,000 4,247 Preferred unit distributions 10,612 10,070 3,783 - - -------- -------- -------- -------- -------- Combined fixed charges $155,965 $147,149 $129,734 $105,934 $ 67,018 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 2.23 2.31 2.24 2.07 1.92 ======== ======== ======== ======== ======== Ratio of earnings to combined fixed charges 1.92 1.98 1.98 1.85 1.80 ======== ======== ======== ======== ======== Certain amounts from prior periods have been restated to conform to current-year presentation.