Attached files
| file | filename |
|---|---|
| 10-Q - IRET FORM 10-Q - CENTERSPACE | iretform10q-12102010.htm |
| EX-32 - CERTIFICATION BY THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - CENTERSPACE | iretexhibit32-12102010.htm |
| EX-31.1 - CERTIFICATIONS TIMOTHY P. MIHALICK - CENTERSPACE | iretexhibit311-12102010.htm |
| EX-31.2 - CERTIFICATIONS DIANE K. BRYANTT - CENTERSPACE | iretexhibit312-12102010.htm |
Exhibit 12
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED SHARE DISTRIBUTIONS
(In Thousands, Except Ratios; Unaudited)
|
Six Months
Ended
|
Fiscal Year Ended
April 30,
|
||||||||||||||||||||||||
|
October 31, 2010
|
2010
|
2009
|
2008
|
2007
|
2006
|
||||||||||||||||||||
|
Earnings
|
|||||||||||||||||||||||||
|
Income from continuing operations
|
$ | 4,052 | $ | 5,684 | $ | 10,985 | $ | 14,948 | $ | 14,622 | $ | 11,609 | |||||||||||||
|
Add:
|
|||||||||||||||||||||||||
|
Combined fixed charges and preferred distributions (see below)
|
35,327 | 71,497 | 72,027 | 66,317 | 61,280 | 53,970 | |||||||||||||||||||
|
Less:
|
|||||||||||||||||||||||||
|
(Income) loss noncontrolling interests – consolidated real estate entities
|
44 | (22 | ) | 40 | 136 | 26 | (484 | ) | |||||||||||||||||
|
Interest capitalized
|
(33 | ) | (19 | ) | (912 | ) | (506 | ) | (69 | ) | (21 | ) | |||||||||||||
|
Preferred distributions
|
(1,186 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | |||||||||||||
|
Total earnings
|
$ | 38,204 | $ | 74,768 | $ | 79,768 | $ | 78,523 | $ | 73,487 | $ | 62,702 | |||||||||||||
|
Fixed charges
|
|||||||||||||||||||||||||
|
Interest expensed
|
$ | 34,108 | $ | 69,106 | $ | 68,743 | $ | 63,439 | $ | 58,839 | $ | 51,577 | |||||||||||||
|
Interest capitalized
|
33 | 19 | 912 | 506 | 69 | 21 | |||||||||||||||||||
|
Total Fixed charges
|
$ | 34,141 | $ | 69,125 | $ | 69,655 | $ | 63,945 | $ | 58,908 | $ | 51,598 | |||||||||||||
|
Preferred distributions
|
1,186 | 2,372 | 2,372 | 2,372 | 2,372 | 2,372 | |||||||||||||||||||
|
Total Combined fixed charges and preferred distributions
|
$ | 35,327 | $ | 71,497 | $ | 72,027 | $ | 66,317 | $ | 61,280 | $ | 53,970 | |||||||||||||
|
Ratio of earnings to fixed charges
|
1.12 | 1.08 | 1.15 | 1.23 | 1.25 | 1.22 | |||||||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred distributions
|
1.08 | 1.05 | 1.11 | 1.18 | 1.20 | 1.16 | |||||||||||||||||||