Attached files
| file | filename |
|---|---|
| 10-Q - RAMCO-GERSHENSON PROPERTIES TRUST 10-Q - RPT Realty | a6711214.htm |
| EX-32.2 - EXHIBIT 32.2 - RPT Realty | a6711214ex32_2.htm |
| EX-31.2 - EXHIBIT 31.2 - RPT Realty | a6711214ex31_2.htm |
| EX-31.1 - EXHIBIT 31.1 - RPT Realty | a6711214ex31_1.htm |
| EX-32.1 - EXHIBIT 32.1 - RPT Realty | a6711214ex32_1.htm |
Exhibit 12.1
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Computation of Ratio of Earnings to Fixed Charges
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For Period Ended March 31, 2011 and 2010
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(in thousands, except ratio computation)
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Three months ended
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March 31,
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2011
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2010
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Pretax loss from continuing operations before adjustment for
noncontrolling interest (a)
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$ | (300 | ) | $ | (1,588 | ) | ||
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Add back:
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Fixed Charges
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8,941 | 9,122 | ||||||
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Distributed income of equity investees
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1,079 | 734 | ||||||
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Deduct:
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Equity in earnings loss of equity investees
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(961 | ) | 867 | |||||
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Capitalized interest
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(102 | ) | (434 | ) | ||||
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Earnings as Defined
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$ | 8,657 | $ | 8,701 | ||||
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Fixed Charges
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Interest expense including amortization of deferred financing fees
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$ | 8,759 | $ | 8,614 | ||||
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Capitalized interest
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102 | 434 | ||||||
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Interest portion of rent expense
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80 | 74 | ||||||
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Fixed Charges
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$ | 8,941 | $ | 9,122 | ||||
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Ratio of Earnings to Fixed Charges
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(a)
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(a)
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(a)
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Due to the pretax loss from continuing operations for the three months ended March 31, 2011 and 2010, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of approximately $240,000 and $380,000 to achieve a coverage of 1:1 for the three months ended March 31, 2011 and 2010, respectively.
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The pretax loss from continuing operations before adjustment for noncontrolling interest for the three months ended March 31, 2010 includes impairment charges of equity investments in unconsolidated joint ventures of $2.7 million as discussed in Note 5 to the condensed consolidated financial statements in the Form 10-Q for the period ended March 31, 2011.
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