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Previous: GLENBOROUGH REALTY TRUST INC, 10-Q, 2000-11-14 |
Next: GLENBOROUGH REALTY TRUST INC, 10-Q, EX-27, 2000-11-14 |
Exhibit 12.01 GLENBOROUGH REALTY TRUST INCORPORATED |
| GRT Predecessor Entities, Combined |
The Company | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended December 31, |
Three Months Ended March 31, |
Three Months Ended June 30, |
Three Months Ended Sept. 30, |
Year To Date | ||||||||||||||||
| 1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2000 |
2000 |
2000 | ||||||||||||
| EARNINGS, AS DEFINED | ||||||||||||||||||||
| Net Income (Loss) before Preferred | ||||||||||||||||||||
| Dividends(2) | $ 524 | $(1,609 | ) | $ 19,368 | $ 44,602 | $ 50,286 | $ 8,051 | $ 8,332 | $14,596 | $30,979 | ||||||||||
| Extraordinary items | — | 186 | 843 | 1,400 | (984 | ) | 466 | 84 | — | 550 | ||||||||||
| Federal & State income taxes | 357 | — | — | — | — | — | — | — | — | |||||||||||
| Minority Interest | — | 292 | 1,119 | 2,550 | 3,647 | 306 | 350 | 1,177 | 1,833 | |||||||||||
| Fixed Charges | 2,129 | 3,913 | 9,668 | 53,289 | 64,782 | 16,347 | 16,023 | 14,979 | 47,349 | |||||||||||
| $3,010 | $ 2,782 | $ 30,998 | $101,841 | $ 117,731 | $25,170 | $24,789 | $30,752 | $80,711 | ||||||||||||
| FIXED CHARGES AND PREFERRED DIVIDENDS, AS DEFINED | ||||||||||||||||||||
| Interest Expense | $2,129 | $ 3,913 | $ 9,668 | $ 53,289 | $ 64,782 | $16,347 | $16,023 | $14,979 | $47,349 | |||||||||||
| Capitalized Interest | — | — | — | 1,108 | 2,675 | 788 | 771 | 1,070 | 2,629 | |||||||||||
| Preferred Dividends | — | — | — | 20,620 | 22,280 | 5,488 | 5,443 | 4,891 | 15,822 | |||||||||||
| $2,129 | $ 3,913 | $ 9,668 | $ 75,017 | $ 89,737 | $22,623 | $22,237 | $20,940 | $65,800 | ||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES(3) | 1.41 | 0.71 | (1) | 3.21 | 1.87 | 1.75 | 1.47 | 1.48 | 1.92 | 1.61 | ||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES AND | ||||||||||||||||||||
| PREFERRED DIVIDENDS(3) | 1.41 | 0.71 | (1) | 3.21 | 1.36 | 1.31 | 1.11 | 1.11 | 1.47 | 1.23 | ||||||||||
| (1) | For the twelve months ended December 31, 1996, earnings were insufficient to cover fixed charges by $1,131. |
| (2) | Net Income (Loss) before Preferred Dividends includes depreciation and amortization expense as a deduction. |
| (3) | Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Dividends includes depreciation and amortization expense as a deduction from earnings. |
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