Attached files
| file | filename |
|---|---|
| EX-31.2 - EX-31.2 - Public Storage | psa-20140630ex3129e1a99.htm |
| EX-31.1 - EX-31.1 - Public Storage | psa-20140630ex3114301c3.htm |
| EX-32 - EX-32 - Public Storage | psa-20140630xex32.htm |
| EXCEL - IDEA: XBRL DOCUMENT - Public Storage | Financial_Report.xls |
| 10-Q - 10-Q - Public Storage | psa-20140630x10q.htm |
PUBLIC STORAGE
EXHIBIT 12 – STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
Six Months Ended June 30, |
Year Ended December 31, |
|||||||||||||||||||
|
2014 |
2013 |
2013 |
2012 |
2011 |
2010 |
2009 |
||||||||||||||
|
(Amounts in thousands, except ratios) |
||||||||||||||||||||
|
Income from continuing operations |
$ |
506,552 |
$ |
473,926 |
$ |
1,057,531 |
$ |
930,161 |
$ |
833,143 |
$ |
688,354 |
$ |
796,445 | ||||||
|
Less: Income allocated to noncontrolling interests which do not have fixed charges |
(2,376) | (2,168) | (4,883) | (3,505) | (11,993) | (16,561) | (17,203) | |||||||||||||
|
Equity in earnings of investments (greater) less than cash distributions from investment |
(2,953) | (2,407) | (11,709) | (904) | (5,197) | 11,536 | (3,836) | |||||||||||||
|
Add back: interest expense |
5,543 | 4,144 | 6,444 | 19,813 | 24,222 | 30,225 | 29,916 | |||||||||||||
|
Total earnings available to cover fixed charges |
$ |
506,766 |
$ |
473,495 |
$ |
1,047,383 |
$ |
945,565 |
$ |
840,175 |
$ |
713,554 |
$ |
805,322 | ||||||
|
Total fixed charges - interest expense (including capitalized interest) |
$ |
5,953 |
$ |
5,688 |
$ |
9,339 |
$ |
20,210 |
$ |
24,586 |
$ |
30,610 |
$ |
30,634 | ||||||
|
Cumulative preferred share cash dividends |
$ |
110,179 |
$ |
100,497 |
$ |
204,312 |
$ |
205,241 |
$ |
224,877 |
$ |
232,745 |
$ |
232,431 | ||||||
|
Preferred partnership unit cash distributions |
- |
- |
- |
- |
- |
5,930 | 9,455 | |||||||||||||
|
Allocations pursuant to EITF Topic D-42 |
- |
- |
- |
61,696 | 35,585 | 8,289 | (78,218) | |||||||||||||
|
Total preferred distributions |
$ |
110,179 |
$ |
100,497 |
$ |
204,312 |
$ |
266,937 |
$ |
260,462 |
$ |
246,964 |
$ |
163,668 | ||||||
|
Total combined fixed charges and preferred share income allocations |
$ |
116,132 |
$ |
106,185 |
$ |
213,651 |
$ |
287,147 |
$ |
285,048 |
$ |
277,574 |
$ |
194,302 | ||||||
|
Ratio of earnings to fixed charges |
85.13 x |
83.24 x |
112.15 x |
46.79 x |
34.17 x |
23.31 x |
26.29 x |
|||||||||||||
|
Ratio of earnings to fixed charges and preferred share income allocations |
4.36 x |
4.46 x |
4.90 x |
3.29 x |
2.95 x |
2.57 x |
4.14 x |
|||||||||||||
Exhibit 12