EX-12.1 3 firtex121.txt COMPUTATION OF RATIOS OF EARNINGS Exhibit 12.1 FIRST INDUSTRIAL REALTY TRUST, INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (DOLLARS IN THOUSANDS)
3/31/01 12/31/00 12/31/99 12/31/98 12/31/97 12/31/96 ------------------------------------------------------------------------------- Income from Operations Before Income Allocated to Minority Interest............................ $ 26,357 $104,963 $112,560 $80,309 $66,379 $36,524 Plus: Interest Expense and Amortization of Interest Rate Protection Agreements and Deferred Financing Costs..................... 21,644 85,675 81,231 72,750 52,671 32,240 ------- ------- ------- ------- ------- ------ Earnings Before Income Allocated to Minority Interest and Fixed Charges............................. $ 48,001 $190,638 $ 193,791 $153,059 $119,050 $68,764 ========== ========== =========== ========== ========== ======== Fixed Charges and Preferred Stock Dividends........................... $ 31,828 $123,722 $119,643 $107,003 $65,678 $36,660 ========== ========== ========== ========== ========= ======== Ratio of Earnings to Fixed Charges and Preferred Stock Dividends....... 1.51x 1.54x 1.62x 1.43x 1.81x 1.88x
(a) For purposes of computing the ratios of earnings to fixed charges and preferred stock dividends, earnings have been calculated by adding fixed charges (excluding capitalized interest) to income from operations before income allocated to minority interest. Fixed charges consist of interest costs, whether expensed or capitalized, and amortization of interest rate protection agreements and deferred financing charges. II-1