Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - COUSINS PROPERTIES INC | g22172e10vk.htm |
| EX-23 - EX-23 - COUSINS PROPERTIES INC | g22172exv23.htm |
| EX-21 - EX-21 - COUSINS PROPERTIES INC | g22172exv21.htm |
| EX-32.1 - EX-32.1 - COUSINS PROPERTIES INC | g22172exv32w1.htm |
| EX-31.2 - EX-31.2 - COUSINS PROPERTIES INC | g22172exv31w2.htm |
| EX-31.1 - EX-31.1 - COUSINS PROPERTIES INC | g22172exv31w1.htm |
| EX-32.2 - EX-32.2 - COUSINS PROPERTIES INC | g22172exv32w2.htm |
| EX-10.A.XX - EX-10.A.XX - COUSINS PROPERTIES INC | g22172exv10wawxx.htm |
| EX-10.A.XXI - EX-10.A.XXI - COUSINS PROPERTIES INC | g22172exv10wawxxi.htm |
| EX-10.A.XXII - EX-10.A.XXII - COUSINS PROPERTIES INC | g22172exv10wawxxii.htm |
Exhibit 12
COUSINS PROPERTIES INCORPORATED
STATEMENT REGARDING COMPUTATION OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED DIVIDENDS
($ in thousands)
STATEMENT REGARDING COMPUTATION OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED DIVIDENDS
($ in thousands)
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Income (loss) from continuing operations before taxes,
unconsolidated joint ventures and sale of investment
properties |
$ | (66,195 | ) | $ | (5,740 | ) | $ | 1,843 | $ | (25,372 | ) | $ | (3,105 | ) | ||||||
Add: |
||||||||||||||||||||
Gain on sale of investment property, net of
applicable income tax provision |
168,637 | 10,799 | 5,535 | 3,012 | 15,733 | |||||||||||||||
Distributed income of equity investees |
7,237 | 23,751 | 7,716 | 169,481 | 34,948 | |||||||||||||||
Amortization of capitalized interest |
3,117 | 2,022 | 1,478 | 975 | 1,196 | |||||||||||||||
Fixed charges |
58,263 | 63,233 | 47,669 | 47,551 | 42,211 | |||||||||||||||
Subtract: |
||||||||||||||||||||
Capitalized interest |
(3,736 | ) | (14,894 | ) | (23,343 | ) | (20,554 | ) | (17,193 | ) | ||||||||||
Preferred dividends |
(12,907 | ) | (14,957 | ) | (15,250 | ) | (15,250 | ) | (15,250 | ) | ||||||||||
Earnings |
$ | 154,416 | $ | 64,214 | $ | 25,648 | $ | 159,843 | $ | 58,540 | ||||||||||
Fixed charges: |
||||||||||||||||||||
Interest expense |
$ | 41,393 | $ | 33,151 | $ | 8,816 | $ | 11,119 | $ | 9,094 | ||||||||||
Capitalized interest |
3,736 | 14,894 | 23,343 | 20,554 | 17,193 | |||||||||||||||
Interest component of rental expense (30%) |
227 | 231 | 260 | 628 | 674 | |||||||||||||||
| 45,356 | 48,276 | 32,419 | 32,301 | 26,961 | ||||||||||||||||
Preferred stock dividends |
12,907 | 14,957 | 15,250 | 15,250 | 15,250 | |||||||||||||||
Fixed charges |
$ | 58,263 | $ | 63,233 | $ | 47,669 | $ | 47,551 | $ | 42,211 | ||||||||||
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends |
2.65 | 1.02 | 0.54 | 3.36 | 1.39 | |||||||||||||||