Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - PROLOGIS | Financial_Report.xls |
| 10-Q - FORM 10-Q - PROLOGIS | d71991e10vq.htm |
| EX-31.2 - EX-31.2 - PROLOGIS | d71991exv31w2.htm |
| EX-10.1 - EX-10.1 - PROLOGIS | d71991exv10w1.htm |
| EX-12.1 - EX-12.1 - PROLOGIS | d71991exv12w1.htm |
| EX-32.1 - EX-32.1 - PROLOGIS | d71991exv32w1.htm |
| EX-31.1 - EX-31.1 - PROLOGIS | d71991exv31w1.htm |
| EX-15.1 - EX-15.1 - PROLOGIS | d71991exv15w1.htm |
EXHIBIT 12.2
PROLOGIS
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED SHARE DIVIDENDS
(Dollar amounts in thousands)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED SHARE DIVIDENDS
(Dollar amounts in thousands)
| Three Months Ended | ||||||||||||||||||||||||||||
| March 31, | Year Ended December 31, | |||||||||||||||||||||||||||
| 2010 (1) | 2009 | 2009 (2) | 2008 (2) | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Earnings (loss) from continuing operations |
$ | (92,998 | ) | $ | 170,435 | $ | (265,013 | ) | $ | (282,280 | ) | $ | 928,708 | $ | 678,879 | $ | 272,478 | |||||||||||
Add (Deduct): |
||||||||||||||||||||||||||||
Income taxes |
8,202 | 15,361 | 5,975 | 68,011 | 66,855 | 29,786 | 26,672 | |||||||||||||||||||||
Interest expense |
109,979 | 92,932 | 373,305 | 385,065 | 389,844 | 295,629 | 176,698 | |||||||||||||||||||||
Earnings, as adjusted |
$ | 25,183 | $ | 278,728 | $ | 114,267 | $ | 170,796 | $ | 1,385,407 | $ | 1,004,294 | $ | 475,848 | ||||||||||||||
Combined fixed charges and preferred share
dividends: |
||||||||||||||||||||||||||||
Interest expense |
$ | 109,979 | $ | 92,932 | $ | 373,305 | $ | 385,065 | $ | 389,844 | $ | 295,629 | $ | 176,698 | ||||||||||||||
Capitalized interest |
16,846 | 31,017 | 94,205 | 168,782 | 123,880 | 95,635 | 63,020 | |||||||||||||||||||||
Total fixed charges |
126,825 | 123,949 | 467,510 | 553,847 | 513,724 | 391,264 | 239,718 | |||||||||||||||||||||
Preferred share dividends |
6,369 | 6,369 | 25,423 | 25,423 | 25,423 | 25,416 | 25,416 | |||||||||||||||||||||
Combined fixed charges and preferred share
dividends |
$ | 133,194 | $ | 130,318 | $ | 492,933 | $ | 579,270 | $ | 539,147 | $ | 416,680 | $ | 265,134 | ||||||||||||||
Ratio of earnings, as adjusted, to combined
fixed charges and preferred share dividends |
0.2 | 2.1 | 0.2 | 0.3 | 2.6 | 2.4 | 1.8 | |||||||||||||||||||||
| (1) | Our fixed charges exceed our earnings, as adjusted, by $108.0 million. | |
| (2) | The loss from continuing operations for 2009 and 2008 includes impairment charges of $495.2 million and $901.8 million, respectively, that are discussed in our Annual Report on Form 10-K. Due to these impairment charges, our combined fixed charges and preferred share dividends exceed our earnings, as adjusted, by $378.7 million and $408.5 million for 2009 and 2008, respectively. |