Attached files

file filename
10-Q - FORM 10-Q - BRE PROPERTIES INC /MD/d10q.htm
EX-11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS - BRE PROPERTIES INC /MD/dex11.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 - BRE PROPERTIES INC /MD/dex322.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 - BRE PROPERTIES INC /MD/dex321.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - BRE PROPERTIES INC /MD/dex312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - BRE PROPERTIES INC /MD/dex311.htm

Exhibit 12

STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(Dollar amounts in thousands)

 

     For the Three Months Ended September 30,
     2009    2008

Earnings available to cover fixed charges:

     

Income from continuing operations

   $ 12,639    $ 15,319

Interest expense

     20,998      22,841

Redeemable noncontrolling interest in income

     401      580
             

Earnings available to cover net fixed charges

   $ 34,038    $ 38,740
             

Fixed charges:

     

Interest expense

   $ 20,998    $ 22,841

Interest capitalized

     3,389      5,872
             

Fixed charges

   $ 24,387    $ 28,713

Preferred stock dividends

     2,953      2,953
             

Fixed charges and preferred stock dividends

   $ 27,340    $ 31,666
             

Earnings available to cover fixed charges

   $ 34,038    $ 38,740

Divided by fixed charges

   $ 24,387    $ 28,713
             

Ratio of earnings to fixed charges

     1.4x      1.3x
             

Earnings available to cover fixed charges

   $ 34,038    $ 38,740

Divided by fixed charges and preferred stock dividends

   $ 27,340    $ 31,666
             

Ratio of earnings to combined fixed charges and preferred stock dividends

     1.2x      1.2x
             


STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(Dollar amounts in thousands)

 

     For the Nine Months Ended September 30,
     2009    2008

Earnings available to cover fixed charges:

     

Income from continuing operations

   $ 44,281    $ 42,182

Interest expense

     61,441      69,058

Redeemable noncontrolling interest in income

     1,491      1,741
             

Earnings available to cover net fixed charges

   $ 107,213    $ 112,981
             

Fixed charges:

     

Interest expense

   $ 61,441    $ 69,058

Interest capitalized

     12,804      17,421
             

Fixed charges

   $ 74,245    $ 86,479

Preferred stock dividends

     8,859      8,859
             

Fixed charges and preferred stock dividends

   $ 83,104    $ 95,338
             

Earnings available to cover fixed charges

   $ 107,213    $ 112,981

Divided by fixed charges

   $ 74,245    $ 86,479
             

Ratio of earnings to fixed charges

     1.4x      1.3x
             

Earnings available to cover fixed charges

   $ 107,213    $ 112,981

Divided by fixed charges and preferred stock dividends

   $ 83,104    $ 95,338
             

Ratio of earnings to combined fixed charges and preferred stock dividends

     1.3x      1.2x