RPT Realty - FORM 10-K - EX-12.1 - March 12, 2010

Attached files

file filename
10-K - FORM 10-K - RPT Realtyk48983e10vk.htm
EX-23.1 - EX-23.1 - RPT Realtyk48983exv23w1.htm
EX-31.2 - EX-31.2 - RPT Realtyk48983exv31w2.htm
EX-21.1 - EX-21.1 - RPT Realtyk48983exv21w1.htm
EX-32.1 - EX-32.1 - RPT Realtyk48983exv32w1.htm
EX-32.2 - EX-32.2 - RPT Realtyk48983exv32w2.htm
EX-31.1 - EX-31.1 - RPT Realtyk48983exv31w1.htm
EX-10.28 - EX-10.28 - RPT Realtyk48983exv10w28.htm
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDENDS
                                         
    Year ended December 31,  
    2009     2008     2007     2006     2005  
Income Before Noncontrolling Interest in Subsidiaries
   $ 15,936     $ 27,432     $ 45,985     $ 42,095     $ 21,853  
Add:
                                        
Distributed Income of Equity Investees
     3,836       6,389       5,934       2,872       1,964  
Fixed Charges and Preferred Dividends Excluding
                                        
Capitalized Interest
     31,392       36,811       46,054       52,338       49,342  
Amortization of Capitalized Interest
     212       162       139       130       123  
Deduct:
                                        
Gain on Sale of Real Estate
     (7,896 )     (19,132 )     (32,643 )     (23,388 )     (1,136 )
Preferred Dividends
     —       —       (3,146 )     (6,655 )     (6,655 )
Equity in Earnings of Equity Investees
     (1,328 )     (2,506 )     (2,496 )     (3,002 )     (2,400 )
 
                              
 
   $ 42,152     $ 49,156     $ 59,827     $ 64,390     $ 63,091  
 
                              
 
                                        
Fixed Charges:
                                        
Interest Expense including Amortization of Debt Costs
   $ 31,088     $ 36,518     $ 42,609     $ 45,409     $ 42,421  
Capitalized Interest
     2,116       1,577       2,881       1,431       741  
Interest Factor in Rental Expense
     304       293       299       274       266  
 
                              
Total Fixed Charges
   $ 33,508     $ 38,388     $ 45,789     $ 47,114     $ 43,428  
Preferred Stock Dividends
     —       —       3,146       6,655       6,655  
 
                              
Total Fixed Charges and Preferred Dividends
   $ 33,508     $ 38,388     $ 48,935     $ 53,769     $ 50,083  
 
                              
 
                              
Ratio of Earnings to Combined Fixed Charges
     1.26       1.28       1.31       1.37       1.45  
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
     1.26       1.28       1.22       1.20       1.26  

 

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