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Previous: NEW PLAN EXCEL REALTY TRUST INC, 10-Q, EX-10.8, 2000-08-10 |
Next: NEW PLAN EXCEL REALTY TRUST INC, 10-Q, EX-27, 2000-08-10 |
<PAGE> 1
EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
The ratio of earnings to fixed charges for the six months ended June 30,
2000 is: 2.0 : 1
For purposes of computing these ratios, earnings have been calculated by
adding fixed charges (excluding capitalized interest) to income before
extraordinary items. Fixed charges consist of interest costs, whether expensed
or capitalized, preferred stock dividend requirements, the interest component of
rental expense, if any, and amortization of debt discounts and issue costs,
whether expensed or capitalized.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
SIX MONTHS ENDED JUNE 30, 2000
(DOLLAR AMOUNTS IN THOUSANDS)
EARNINGS:
Net income $ 62,720
Interest expense (including amortization of debt discount
and issuing costs) 46,112
Equity in loss of affiliate 9,288
Other adjustments 193
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$118,313
========
FIXED CHARGES:
Interest expense (including amortization of debt discount
and issuing costs) $ 46,112
Capitalized interest 277
Preferred stock dividends 11,317
Other adjustments 193
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$ 57,899
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RATIO OF EARNINGS TO FIXED CHARGES 2.0:1
21
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