Attached files
| file | filename |
|---|---|
| EX-5.1 - EX-5.1 - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST | d328543dex51.htm |
| EX-1.1 - EX-1.1 - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST | d328543dex11.htm |
| 8-K - 8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST | d328543d8k.htm |
Exhibit 12.1
Pennsylvania Real Estate Investment Trust
Statement of Combined Fixed Charges and Preference Dividends to Earnings
| (dollars in thousands) | 9 Months Ended September 30, 2016 |
Year Ended December 31, 2015 |
Year Ended December 31, 2014 |
Year Ended December 31, 2013 |
Year Ended December 31, 2012 |
Year Ended December 31, 2011 |
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| Income (loss) before allocation to minority interests and income from investments in unconsolidated joint ventures |
$ | 1,296 | $ | (139,107 | ) | $ | (24,831 | ) | $ | (30,227 | ) | $ | (52,657 | ) | $ | (74,511 | ) | |||||||||
| Plus fixed charges: |
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| Interest expense (including amortization of finance charges) |
53,611 | 81,096 | 82,165 | 98,731 | 122,118 | 127,148 | ||||||||||||||||||||
| Capitalized interest |
2,221 | 604 | 1,883 | 874 | 1,549 | 2,087 | ||||||||||||||||||||
| Interest within rental expense |
400 | 715 | 392 | 456 | 1,154 | 1,194 | ||||||||||||||||||||
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| Total Fixed Charges |
56,232 | 82,415 | 84,440 | 100,061 | 124,821 | 130,429 | ||||||||||||||||||||
| Preferred dividends |
11,886 | 15,848 | 15,848 | 15,848 | 7,984 | — | ||||||||||||||||||||
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| Total Fixed Charges and Preferred Dividends |
68,118 | 98,263 | 100,288 | 115,909 | 132,805 | 130,429 | ||||||||||||||||||||
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| Plus amortization of capitalized interest |
1,042 | 1,626 | 2,087 | 2,291 | 2,169 | 1,956 | ||||||||||||||||||||
| Plus distributed income of investments in unconsolidated joint ventures |
13,663 | 5,868 | 12,127 | 9,023 | 13,002 | 9,636 | ||||||||||||||||||||
| Less capitalized interest |
(2,221 | ) | (604 | ) | (1,883 | ) | (874 | ) | (1,549 | ) | (2,087 | ) | ||||||||||||||
| Less preferred dividends |
(11,886 | ) | (15,848 | ) | (15,848 | ) | (15,848 | ) | (7,984 | ) | — | |||||||||||||||
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| Total Earnings |
70,012 | (49,802 | ) | 71,940 | 80,274 | 85,786 | 65,423 | |||||||||||||||||||
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| Interest expense (Incl. Amortization of Deferred Financing Costs) |
53,611 | 81,096 | 82,165 | 98,731 | 122,118 | 127,148 | ||||||||||||||||||||
| Capitalized interest |
2,221 | 604 | 1,883 | 874 | 1,549 | 2,087 | ||||||||||||||||||||
| Interest within rental expense |
400 | 715 | 392 | 456 | 1,154 | 1,194 | ||||||||||||||||||||
| Preferred dividends |
11,886 | 15,848 | 15,848 | 15,848 | 7,984 | — | ||||||||||||||||||||
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| Fixed Charges | 68,118 | 98,263 | 100,288 | 115,909 | 132,805 | 130,429 | ||||||||||||||||||||
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| Combined Fixed Charges and Preference Dividends |
68,118 | 98,263 | 100,288 | 115,909 | 132,805 | 130,429 | ||||||||||||||||||||
| Total Earnings |
70,012 | (49,802 | ) | 71,940 | 80,274 | 85,786 | 65,423 | |||||||||||||||||||
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| Ratio of Earnings to Fixed Charges |
1.25 | (0.60 | ) | 0.85 | 0.80 | 0.69 | 0.50 | |||||||||||||||||||
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| Ratio of Combined Earnings to Fixed Charges and Preference Dividends |
1.03 | (0.51 | ) | 0.72 | 0.69 | 0.65 | 0.50 | |||||||||||||||||||
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