BRE PROPERTIES INC /MD/ - FORM 10-Q - EX-12 - STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - August 5, 2011

Attached files

file filename
10-Q - FORM 10-Q - BRE PROPERTIES INC /MD/d10q.htm
EX-11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS - BRE PROPERTIES INC /MD/dex11.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - BRE PROPERTIES INC /MD/dex311.htm
EXCEL - IDEA: XBRL DOCUMENT - BRE PROPERTIES INC /MD/Financial_Report.xls
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 - BRE PROPERTIES INC /MD/dex321.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 - BRE PROPERTIES INC /MD/dex322.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - BRE PROPERTIES INC /MD/dex312.htm

Exhibit 12

STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND

EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 

(Dollar amounts in thousands)

 

     For the Three Months Ended June 30,  
     2011      2010  

Earnings available to cover fixed charges:

      

Income from continuing operations

    $ 12,776       $ 6,791   

Interest expense

      18,739         20,727   
  

 

 

     

 

 

  

Earnings available to cover net fixed charges

    $ 31,515       $ 27,518   
  

 

 

     

 

 

  

Fixed charges:

      

Interest expense

    $ 18,739       $ 20,727   

Interest capitalized

      3,554         3,231   
  

 

 

     

 

 

  

Fixed charges

    $ 22,293       $ 23,958   

Preferred stock dividends

      2,653         2,953   

Redemption related preferred stock issuance cost

    $ 3,616       $ —     
  

 

 

     

 

 

  

Fixed charges and preferred stock dividends

    $ 28,562       $ 26,911   
  

 

 

     

 

 

  

Earnings available to cover fixed charges

    $ 31,515       $ 27,518   

Divided by fixed charges

    $ 22,293       $ 23,958   
  

 

 

     

 

 

  

Ratio of earnings to fixed charges

      1.4x         1.2x   
  

 

 

     

 

 

  

Earnings available to cover fixed charges

    $ 31,515       $ 27,518   

Divided by fixed charges and preferred stock dividends

    $ 28,562       $ 26,911   
  

 

 

     

 

 

  

Ratio of earnings to combined fixed charges and preferred stock dividends

      1.1x         1.0x   
  

 

 

     

 

 

  

STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND

EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 

(Dollar amounts in thousands)

 

     For the Six Months Ended June 30,  
     2011      2010  

Earnings available to cover fixed charges:

      

Income from continuing operations

    $ 25,709       $ 14,037   

Interest expense

      38,487         41,826   
  

 

 

     

 

 

  

Earnings available to cover net fixed charges

    $ 64,196       $ 55,863   
  

 

 

     

 

 

  

Fixed charges:

      

Interest expense

    $ 38,487       $ 41,826   

Interest capitalized

      6,286         6,364   
  

 

 

     

 

 

  

Fixed charges

    $ 44,773       $ 48,190   

Preferred stock dividends

      5,606         5,906   

Redemption related preferred stock issuance cost

    $ 3,616       $ —     
  

 

 

     

 

 

  

Fixed charges and preferred stock dividends

    $ 53,995       $ 54,096   
  

 

 

     

 

 

  

Earnings available to cover fixed charges

    $ 64,196       $ 55,863   

Divided by fixed charges

    $ 44,773       $ 48,190   
  

 

 

     

 

 

  

Ratio of earnings to fixed charges

      1.4x         1.2x   
  

 

 

     

 

 

  

Earnings available to cover fixed charges

    $ 64,196       $ 55,863   

Divided by fixed charges and preferred stock dividends

    $ 53,995       $ 54,096   
  

 

 

     

 

 

  

Ratio of earnings to combined fixed charges and preferred stock dividends

      1.2x         1.0x   

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