EX-12
Published on February 21, 2013
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RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
|
|
Year Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
Income from continuing operations |
$ | 51,311 | $ | 49,542 | $ | 45,595 | $ | 44,248 | $ | 43,080 | ||||||
Add: Fixed charges |
10,098 | 6,670 | 2,961 | 2,754 | 4,481 | |||||||||||
Add: Capitalized interest |
(130 | ) | (45 | ) | (117 | ) | (40 | ) | (60 | ) | ||||||
Less: Income allocated to non-controlling interests |
(37 | ) | (191 | ) | (191 | ) | (296 | ) | (307 | ) | ||||||
Earnings |
$ | 61,243 | $ | 55,976 | $ | 48,248 | $ | 46,666 | $ | 47,194 | ||||||
Fixed Charges |
||||||||||||||||
Interest expense (includes amortization of debt issue costs and capitalized interest) |
10,061 | 6,479 | 2,770 | 2,458 | 4,174 | |||||||||||
Income allocated to non-controlling interests |
37 | 191 | 191 | 296 | 307 | |||||||||||
Total fixed charges |
10,098 | 6,670 | 2,961 | 2,754 | 4,481 | |||||||||||
Preferred stock dividend (excludes preferred stock redemption charge) |
3,273 |
5,512 |
13,662 |
15,141 |
15,390 |
|||||||||||
Total fixed charges and preferred dividends |
$ | 13,371 | $ | 12,182 | $ | 16,623 | $ | 17,895 | $ | 19,871 | ||||||
Ratio of earnings to fixed charges |
6.06 |
8.39 |
16.29 |
16.94 |
10.53 |
|||||||||||
Ratio of earnings to fixed charges and preferred dividends |
4.58 |
4.59 |
2.90 |
2.61 |
2.38 |
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RATIO OF EARNINGS TO FIXED CHARGES (dollars in thousands)