EX-12
Published on February 27, 2012
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RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
|
|
Year Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||
Income from continuing operations |
$ | 49,673 | $ | 45,860 | $ | 44,473 | $ | 43,056 | $ | 47,803 | ||||||
Add: Fixed charges |
6,670 | 2,961 | 2,754 | 4,481 | 5,300 | |||||||||||
Less: Capitalized interest |
(45 | ) | (117 | ) | (40 | ) | (60 | ) | | |||||||
Less: Income allocated to non-controlling interests |
(191 | ) | (191 | ) | (296 | ) | (307 | ) | (343 | ) | ||||||
Earnings |
$ | 56,107 | $ | 48,513 | $ | 46,891 | $ | 47,170 | $ | 52,760 | ||||||
Fixed Charges |
||||||||||||||||
Interest expense (includes amortization of debt issue costs and capitalized interest) |
6,479 | 2,770 | 2,458 | 4,174 | 4,957 | |||||||||||
Income allocated to non-controlling interests |
191 | 191 | 296 | 307 | 343 | |||||||||||
Total fixed charges |
6,670 | 2,961 | 2,754 | 4,481 | 5,300 | |||||||||||
Preferred stock dividend (excludes preferred stock redemption charge) |
5,512 | 13,662 | 15,141 | 15,390 | 16,923 | |||||||||||
Total fixed charges and preferred dividends |
$ | 12,182 | $ | 16,623 | $ | 17,895 | $ | 19,871 | $ | 22,223 | ||||||
Ratio of earnings to fixed charges |
8.41 | 16.38 | 17.03 | 10.53 | 9.95 | |||||||||||
Ratio of earnings to fixed charges and preferred dividends |
4.61 |
2.92 |
2.62 |
2.37 |
2.37 |
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RATIO OF EARNINGS TO FIXED CHARGES (dollars in thousands)