Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - COUSINS PROPERTIES INC | g26200e10vk.htm |
| EX-23 - EX-23 - COUSINS PROPERTIES INC | g26200exv23.htm |
| EX-21 - EX-21 - COUSINS PROPERTIES INC | g26200exv21.htm |
| EX-31.2 - EX-31.2 - COUSINS PROPERTIES INC | g26200exv31w2.htm |
| EX-31.1 - EX-31.1 - COUSINS PROPERTIES INC | g26200exv31w1.htm |
| EX-32.2 - EX-32.2 - COUSINS PROPERTIES INC | g26200exv32w2.htm |
| EX-32.1 - EX-32.1 - COUSINS PROPERTIES INC | g26200exv32w1.htm |
| EX-10.(A)(XXV) - EX-10.(A)(XXV) - COUSINS PROPERTIES INC | g26200exv10wxayxxxvy.htm |
| EX-10.(A)(XXVI) - EX-10.(A)(XXVI) - COUSINS PROPERTIES INC | g26200exv10wxayxxxviy.htm |
| EX-10.(A)(XXVII) - EX-10.(A)(XXVII) - COUSINS PROPERTIES INC | g26200exv10wxayxxxviiy.htm |
| EX-10.(A)(XXVIII) - EX-10.(A)(XXVIII) - COUSINS PROPERTIES INC | g26200exv10wxayxxxviiiy.htm |
Exhibit 12
COUSINS PROPERTIES INCORPORATED
STATEMENT REGARDING COMPUTATION OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED DIVIDENDS
($ in thousands)
STATEMENT REGARDING COMPUTATION OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED DIVIDENDS
($ in thousands)
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Loss from continuing operations before taxes,
unconsolidated joint ventures, sale of investment properties
and net income attributable to noncontrolling interests |
$ | (34,523 | ) | $ | (81,860 | ) | $ | (6,597 | ) | $ | (3,087 | ) | $ | (28,532 | ) | |||||
Add: |
||||||||||||||||||||
Gain on sale of investment property, net of
applicable income tax provision |
1,938 | 168,637 | 10,799 | 5,535 | 3,012 | |||||||||||||||
Distributed income of equity investees |
11,394 | 7,237 | 23,751 | 7,716 | 169,481 | |||||||||||||||
Amortization of capitalized interest |
2,173 | 2,974 | 1,880 | 1,336 | 837 | |||||||||||||||
Fixed charges |
37,401 | 43,851 | 43,382 | 32,299 | 34,071 | |||||||||||||||
Subtract: |
||||||||||||||||||||
Capitalized interest |
— | (3,736 | ) | (14,894 | ) | (23,474 | ) | (22,324 | ) | |||||||||||
Preferred dividends |
(12,907 | ) | (12,907 | ) | (14,957 | ) | (15,250 | ) | (15,250 | ) | ||||||||||
Earnings |
$ | 5,476 | $ | 124,196 | $ | 43,364 | $ | 5,075 | $ | 141,295 | ||||||||||
Combined Fixed Charges and Preferred Dividends: |
||||||||||||||||||||
Interest expense |
$ | 37,180 | $ | 39,888 | $ | 28,257 | $ | 8,565 | $ | 11,119 | ||||||||||
Capitalized interest |
— | 3,736 | 14,894 | 23,474 | 22,324 | |||||||||||||||
Interest component of rental expense (30%) |
221 | 227 | 231 | 260 | 628 | |||||||||||||||
| 37,401 | 43,851 | 43,382 | 32,299 | 34,071 | ||||||||||||||||
Preferred stock dividends |
12,907 | 12,907 | 14,957 | 15,250 | 15,250 | |||||||||||||||
Fixed charges and preferred dividends |
$ | 50,308 | $ | 56,758 | $ | 58,339 | $ | 47,549 | $ | 49,321 | ||||||||||
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends |
0.11 | 2.19 | 0.74 | 0.11 | 2.86 | |||||||||||||||