Attached files
| file | filename |
|---|---|
| EX-21 - AGREE REALTY CORP | v214504_ex21.htm |
| EX-23.1 - AGREE REALTY CORP | v214504_ex23-1.htm |
| EX-32.2 - AGREE REALTY CORP | v214504_ex32-2.htm |
| EX-32.1 - AGREE REALTY CORP | v214504_ex32-1.htm |
| EX-31.2 - AGREE REALTY CORP | v214504_ex31-2.htm |
| EX-31.1 - AGREE REALTY CORP | v214504_ex31-1.htm |
| 10-K - AGREE REALTY CORP | v214504_10k.htm |
EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
|
Year
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Year
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Year
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Year
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Year
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Year
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|||||||||||||||||||
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Ended
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Ended
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Ended
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Ended
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Ended
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Ended
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|||||||||||||||||||
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December 31, 2010
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December 31, 2009
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December 31, 2008
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December 31, 2007
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December 31, 2006
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December 31, 2005
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|||||||||||||||||||
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Net Income
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$ | 15,627,834 | $ | 17,994,036 | $ | 16,282,037 | $ | 16,826,749 | $ | 15,194,281 | $ | 14,053,083 | ||||||||||||
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Add:
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||||||||||||||||||||||||
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Interest on indebtedness
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4,445,475 | 4,346,519 | 5,006,460 | 4,712,893 | 4,486,743 | 4,007,754 | ||||||||||||||||||
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Amortization of financing costs
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266,469 | 288,235 | 172,954 | 182,872 | 138,028 | 151,133 | ||||||||||||||||||
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Earnings
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$ | 20,339,777 | $ | 22,628,790 | $ | 21,461,451 | $ | 21,722,514 | $ | 19,819,052 | $ | 18,211,970 | ||||||||||||
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Fixed charges and preferred stock dividends:
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||||||||||||||||||||||||
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Interest on indebtedness
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$ | 4,764,709 | $ | 4,567,301 | $ | 5,564,105 | $ | 5,268,893 | $ | 4,684,743 | $ | 4,444,754 | ||||||||||||
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Amortization of financing costs
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266,469 | 288,235 | 172,954 | 182,872 | 138,028 | 151,133 | ||||||||||||||||||
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Fixed charges
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5,031,178 | 4,855,536 | 5,737,059 | 5,451,765 | 4,822,771 | 4,595,887 | ||||||||||||||||||
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Add:
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||||||||||||||||||||||||
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Preferred stock dividends
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- | - | - | - | - | - | ||||||||||||||||||
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Combined fixed charges and preferred stock dividends
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$ | 5,031,178 | $ | 4,855,536 | $ | 5,737,059 | $ | 5,451,765 | $ | 4,822,771 | $ | 4,595,887 | ||||||||||||
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Ratio of earnings to fixed charges
|
4.04 | x | 4.66 | x | 3.74 | x | 3.98 | x | 4.11 | x | 3.96 | x | ||||||||||||