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
|
Year
|
Year
|
Year
|
Year
|
Year
|
|||||||||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
|||||||||||||||||||
December 31, 2010
|
December 31, 2009
|
December 31, 2008
|
December 31, 2007
|
December 31, 2006
|
December 31, 2005
|
|||||||||||||||||||
Net Income
|
$ | 15,627,834 | $ | 17,994,036 | $ | 16,282,037 | $ | 16,826,749 | $ | 15,194,281 | $ | 14,053,083 | ||||||||||||
Add:
|
||||||||||||||||||||||||
Interest on indebtedness
|
4,445,475 | 4,346,519 | 5,006,460 | 4,712,893 | 4,486,743 | 4,007,754 | ||||||||||||||||||
Amortization of financing costs
|
266,469 | 288,235 | 172,954 | 182,872 | 138,028 | 151,133 | ||||||||||||||||||
Earnings
|
$ | 20,339,777 | $ | 22,628,790 | $ | 21,461,451 | $ | 21,722,514 | $ | 19,819,052 | $ | 18,211,970 | ||||||||||||
Fixed charges and preferred stock dividends:
|
||||||||||||||||||||||||
Interest on indebtedness
|
$ | 4,764,709 | $ | 4,567,301 | $ | 5,564,105 | $ | 5,268,893 | $ | 4,684,743 | $ | 4,444,754 | ||||||||||||
Amortization of financing costs
|
266,469 | 288,235 | 172,954 | 182,872 | 138,028 | 151,133 | ||||||||||||||||||
Fixed charges
|
5,031,178 | 4,855,536 | 5,737,059 | 5,451,765 | 4,822,771 | 4,595,887 | ||||||||||||||||||
Add:
|
||||||||||||||||||||||||
Preferred stock dividends
|
- | - | - | - | - | - | ||||||||||||||||||
Combined fixed charges and preferred stock dividends
|
$ | 5,031,178 | $ | 4,855,536 | $ | 5,737,059 | $ | 5,451,765 | $ | 4,822,771 | $ | 4,595,887 | ||||||||||||
Ratio of earnings to fixed charges
|
4.04 | x | 4.66 | x | 3.74 | x | 3.98 | x | 4.11 | x | 3.96 | x |