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Previous: PRIME RETAIL INC/BD/, 10-Q, 2000-08-14 |
Next: PRIME RETAIL INC/BD/, 10-Q, EX-27, 2000-08-14 |
<TABLE>
PRIME RETAIL, INC.
EXHIBIT 12: COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED STOCK DISTRIBUTIONS AND DIVIDENDS
(Amounts in thousands, except for ratio information)
<CAPTION>
Six months ended June 30
-------------------------------------------
2000 1999
<S> <C> <C>
------------------- -------------------
Income (loss) before minority interests $ (27,446) $ 16,975
Interest incurred 49,801 45,038
Amortization of capitalized interest 248 244
Amortization of debt issuance costs 1,705 1,390
Amortization of interest rate protection contracts 38 60
Less capitalized interest (2,359) (2,219)
-------- --------
Earnings 21,987 61,488
-------- --------
Interest incurred 49,801 45,038
Amortization of debt issuance costs 1,705 1,390
Amortization of interest rate protection contracts 38 60
Preferred stock distributions and dividends 11,336 12,938
-------- --------
Combined Fixed Charges and
Preferred Stock Distributions and Dividends 62,880 59,426
-------- --------
Excess of Combined Fixed Charges
and Preferred Stock Distributions
and Dividends over Earnings $(40,893)
========
Ratio of Earnings to Combined Fixed
Charges and Preferred Stock
Distributions and Dividends 1.05 x
=========
</TABLE>
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