Attached files
| file | filename |
|---|---|
| EX-32 - SECTION 906 CERTIFICATION - CENTERSPACE | iretexhibit32-09092011.htm |
| EX-31.1 - CERTIFICATIONS TIMOTHY P. MIHALICK - CENTERSPACE | iretexhibit311-09092011.htm |
| EX-31.2 - CERTIFICATIONS DIANE K. BRYANTT - CENTERSPACE | iretexhibit313-09092011.htm |
| EXCEL - IDEA: XBRL DOCUMENT - CENTERSPACE | Financial_Report.xls |
| 10-Q - IRET FORM 10-Q 1ST QUARTER REPORT - CENTERSPACE | iretform10q1st-09092011.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)
|
Three Months
Ended
|
Fiscal Year Ended
April 30,
|
||||||||||||||||||||||||
|
Ju1y 31, 2011
|
2011
|
2010
|
2009
|
2008
|
2007
|
||||||||||||||||||||
|
Earnings
|
|||||||||||||||||||||||||
|
Income from continuing operations
|
$ | 1,573 | $ | 4,480 | $ | 5,215 | $ | 10,447 | $ | 14,516 | $ | 14,392 | |||||||||||||
|
Add:
|
|||||||||||||||||||||||||
|
Combined fixed charges and preferred distributions (see below)
|
16,527 | 67,882 | 71,497 | 72,027 | 66,317 | 61,280 | |||||||||||||||||||
|
Less:
|
|||||||||||||||||||||||||
|
(Income) loss noncontrolling interests – consolidated real estate entities
|
26 | 180 | (22 | ) | 40 | 136 | 26 | ||||||||||||||||||
|
Interest capitalized
|
(9 | ) | (57 | ) | (19 | ) | (912 | ) | (506 | ) | (69 | ) | |||||||||||||
|
Preferred distributions
|
(593 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | |||||||||||||
|
Total earnings
|
$ | 17,524 | $ | 70,113 | $ | 74,299 | $ | 79,230 | $ | 78,091 | $ | 73,257 | |||||||||||||
|
Fixed charges
|
|||||||||||||||||||||||||
|
Interest expensed
|
$ | 15,925 | $ | 65,453 | $ | 69,106 | $ | 68,743 | $ | 63,439 | $ | 58,839 | |||||||||||||
|
Interest capitalized
|
9 | 57 | 19 | 912 | 506 | 69 | |||||||||||||||||||
|
Total Fixed charges
|
$ | 15,934 | $ | 65,510 | $ | 69,125 | $ | 69,655 | $ | 63,945 | $ | 58,908 | |||||||||||||
|
Preferred distributions
|
593 | 2,372 | 2,372 | 2,372 | 2,372 | 2,372 | |||||||||||||||||||
|
Total Combined fixed charges and preferred distributions
|
$ | 16,527 | $ | 67,882 | $ | 71,497 | $ | 72,027 | $ | 66,317 | $ | 61,280 | |||||||||||||
|
Ratio of earnings to fixed charges
|
1.10 | 1.07 | 1.07 | 1.14 | 1.22 | 1.24 | |||||||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred distributions
|
1.06 | 1.03 | 1.04 | 1.10 | 1.18 | 1.20 | |||||||||||||||||||