Attached files
| file | filename |
|---|---|
| 8-K - 8-K - TANGER FACTORY OUTLET CENTERS, INC | skt8-k2013bondofferingunde.htm |
| EX-1.1 - EXHIBIT UNDERWRITING AGREEMENT - TANGER FACTORY OUTLET CENTERS, INC | ex112013bondofferingunderw.htm |
Exhibit 12.1
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
As Adjusted (1) | |||||||
Nine months ended September 30, | For the year ended | ||||||
2013 | 2012 | ||||||
Earnings: | |||||||
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests | $ | 74,830 | $ | 51,807 | |||
Add: | |||||||
Distributed income of unconsolidated joint ventures | 4,415 | 1,005 | |||||
Amortization of capitalized interest | 384 | 509 | |||||
Interest expense | 43,074 | 57,778 | |||||
Portion of rent expense - interest factor | 1,527 | 1,908 | |||||
Total earnings | 124,230 | 113,007 | |||||
Fixed charges: | |||||||
Interest expense | 43,074 | 57,778 | |||||
Capitalized interest and capitalized amortization of debt issue costs | 976 | 1,233 | |||||
Portion of rent expense - interest factor | 1,527 | 1,908 | |||||
Total fixed charges | $ | 45,577 | $ | 60,919 | |||
Ratio of earnings to fixed charges | 2.7 | 1.9 | |||||
(1) | Gives effect to this offering and the application of the net proceeds therefrom as of the beginning of each as adjusted period presented. |