REGENCY CENTERS LP - FORM 8-K - EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES - June 3, 2010

Attached files

file filename
8-K - 8-K - REGENCY CENTERS LPd8k.htm
EX-4.1 - FORM OF SECOND SUPPLEMENTAL INDENTURE DATED JUNE 2, 2010 - REGENCY CENTERS LPdex41.htm
EX-5.1 - OPINION OF FOLEY & LARDNER LLP REGARDING LEGALITY OF SECURITIES - REGENCY CENTERS LPdex51.htm
EX-1.1 - UNDERWRITING AGREEMENT DATED AS OF MAY 27, 2010 - REGENCY CENTERS LPdex11.htm
EX-4.2 - FORM OF GLOBAL NOTE FOR 6.0% NOTES OF REGENCY CENTERS, L.P. - REGENCY CENTERS LPdex42.htm

Exhibit 12.1

Regency Centers Corporation

Ratio of Earnings to Fixed Charges

(amounts in thousands)

 

     Three months ended     Year Ended  
     3/31/2010     3/31/2009     2009     2008     2007     2006     2005  

Fixed Coverage Ratio:

                                           

Continuing operations (before equity in income (loss) of investments in real estate partnerships and noncontrolling interests)

    $ 15,477      18,729      (12,266 )    114,278      157,920      158,744      91,347   
Add (subtract): Tax (benefit) expense      7      (190 )    1,869      (1,600 )    4,197      11,772      (536 ) 
Less: Non controlling interests (without own fixed charges)      (19 )    (23 )    (59 )    (41 )    (869 )    (4,752 )    (83 ) 

Add: Distributions from operations JV’s

      8,362      9,053      31,252      30,730      30,547      28,788      28,661   

Add: Distributions from investment JV’s

      -        1,920      23,548      28,923      41,372      13,452      30,918   

Add: Fixed charge

      39,814      45,992      174,530      193,901      179,798      156,242      139,331   

Subtract: Preferred stock dividend

      (4,919 )    (4,919 )    (19,675 )    (19,675 )    (19,675 )    (19,675 )    (16,744 ) 

Subtract: Preferred unit distribution

      (931 )    (931 )    (3,725 )    (3,725 )    (3,725 )    (3,725 )    (8,105 ) 

Subtract: Capitalized interest

      (2,080 )    (6,359 )    (19,062 )    (36,511 )    (35,424 )    (23,952 )    (12,400 ) 
              

Earnings

    $ 55,710      63,272      176,413      306,280      354,141      316,894      252,389   
              

Fixed Charge Data:

               

Preferred stock dividend

    $ 4,919      4,919      19,675      19,675      19,675      19,675      16,744   

Preferred unit distribution

      931      931      3,725      3,725      3,725      3,725      8,105   

Interest expense

      31,884      33,783      132,068      133,990      120,974      108,890      102,082   

Capitalized interest

      2,080      6,359      19,062      36,511      35,424      23,952      12,400   
              

Total fixed charge

    $ 39,814      45,992      174,530      193,901      179,798      156,242      139,331   
              

Ratio of earnings to fixed charges

      1.4      1.4      1.0      1.6      2.0      2.0      1.8   
              

REGENCY CENTERS LP Reports