EX-12.1 4 efc4-1058_ex121.txt Exhibit 12.1 Reckson Associates Realty Corp. Ratios of earnings to fixed charges The following table sets forth the calculation of the Company's consolidated ratios of earnings to fixed charges for the periods shown (in thousands):
Three Months Year Ended December 31, Ended -------------------------------------------------------- March 31, 2004 2003 2002 2001 2000 1999 ---------------------------------------------------------------------------- Fixed Charges: Interest $ 27,733 $ 89,019 $ 90,507 $ 90,890 $ 88,518 $ 68,154 Ground rents 1,541 2,201 2,305 2,595 2,464 1,731 Amortization of debt issuance costs 927 3,337 4,460 4,465 4,054 3,406 ---------------------------------------------------------------------------- Total fixed charges $ 30,201 $ 94,557 $ 97,272 $ 97,950 $ 95,036 $ 73,291 ============================================================================ Income from continuing operations before minority interests and fixed charges $ 49,821 $ 139,836 $ 169,446 $ 218,405 $ 212,940 $ 161,392 ============================================================================ Ratio of earnings to fixed charges 1.65x 1.48x 1.74x 2.23x 2.24x 2.20x ============================================================================
The following table sets forth the calculation of the Company's consolidated ratios of earnings to fixed charges and preferred stock dividends for the periods shown (in thousands):
Three Months Year Ended December 31, Ended -------------------------------------------------------- March 31, 2004 2003 2002 2001 2000 1999 ---------------------------------------------------------------------------- Fixed Charges: Interest $ 27,733 $ 89,019 $ 90,507 $ 90,890 $ 88,518 $ 68,154 Ground rents 1,541 2,201 2,305 2,595 2,464 1,731 Amortization of debt issuance costs 927 3,337 4,460 4,465 4,054 3,406 Preferred stock dividends 4,533 22,360 23,123 26,601 34,387 31,092 ---------------------------------------------------------------------------- Total fixed charges and preferred stock dividends $ 34,734 $ 116,917 $ 120,395 $ 124,551 $ 129,423 $ 104,383 ============================================================================ Income from continuing operations before minority interests, fixed charges and preferred stock dividends $ 49,821 $ 139,836 $ 169,446 $ 218,405 $ 212,940 $ 161,392 ============================================================================ Ratio of earnings to fixed charges and preferred stock dividends 1.43x 1.20x 1.41x 1.75x 1.65x 1.55x ============================================================================