Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - RPT Realty | a50257285ex31-1.htm |
| EX-32.1 - EXHIBIT 32.1 - RPT Realty | a50257285ex32-1.htm |
| EX-31.2 - EXHIBIT 31.2 - RPT Realty | a50257285ex31-2.htm |
| EX-32.2 - EXHIBIT 32.2 - RPT Realty | a50257285ex32-2.htm |
| EXCEL - IDEA: XBRL DOCUMENT - RPT Realty | Financial_Report.xls |
| 10-Q - RAMCO-GERSHENSON PROPERTIES TRUST 10-Q - RPT Realty | a50257285.htm |
Exhibit 12.1
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
For the three ended March 31, 2012 and 2011.
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Three Months Ended March 31,
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2012
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2011
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(In thousands, except ratio computation)
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Pretax loss from continuing operations before adjustment for noncontrolling interest
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$ | (549 | ) | $ | (424 | ) | ||
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Add back:
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Fixed charges
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7,425 | 8,765 | ||||||
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Distributed income of equity investees
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973 | 1,079 | ||||||
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Deduct:
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Equity in earnings of equity investees
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(496 | ) | (962 | ) | ||||
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Capitalized interest
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(233 | ) | (102 | ) | ||||
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Earnings as Defined
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$ | 7,120 | $ | 8,356 | ||||
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Fixed Charges
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Interest expense including amortization of deferred financing fees
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$ | 7,129 | $ | 8,583 | ||||
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Capitalized interest
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233 | 102 | ||||||
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Interest portion of rent expense
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63 | 80 | ||||||
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Fixed Charges
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7,425 | 8,765 | ||||||
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Preferred share dividends
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1,812 | - | ||||||
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Combined Fixed Charges and Preferred Dividends
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$ | 9,237 | $ | 8,765 | ||||
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Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
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(a)
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(b)
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(a) Due to the pretax loss from continuing operations for the three months ended March 31, 2012 the ratio coverage was less than 1:1. We would have needed to generate additional earnings of $2.1 million to achieve a coverage of 1:1 for the period.
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The pretax loss from continuing operations before adjustment for noncontrolling interest for the three months ended March 31, 2012 includes an asset impairment provision of $2.5 million.
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(b) Due to the pretax loss from continuing operations for the three months ended March 31, 2011, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of $409,000 to achieve a coverage of 1:1 for the period.
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