Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST | d420847d8k.htm |
| EX-5.1 - OPINION OF HOGAN LOVELLS US LLP - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST | d420847dex51.htm |
| EX-1.1 - PURCHASE AGREEMENT - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST | d420847dex11.htm |
Exhibit 12.1
Pennsylvania Real Estate Investment Trust
Statement of Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
| For the Six Months Ended June 30, |
For the Year Ended December 31, | |||||||||||||||||||||||
| (dollars in thousands) | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
| Income (loss) from continuing operations before allocation to noncontrolling interests and income from investments in unconsolidated joint ventures |
$ | (26,762 | ) | $ | (100,570 | ) | $ | (84,064 | ) | $ | (113,969 | ) | $ | (27,643 | ) | $ | 8,771 | |||||||
| Plus fixed charges: |
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| Interest expense (including amortization of finance charges) |
63,464 | 132,256 | 142,730 | 131,236 | 114,228 | 100,188 | ||||||||||||||||||
| Capitalized interest |
1,105 | 2,087 | 2,584 | 5,613 | 15,968 | 16,259 | ||||||||||||||||||
| Interest within rental expense |
578 | 1,194 | 1,265 | 1,324 | 1,345 | 1,386 | ||||||||||||||||||
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| Total Fixed Charges |
65,147 | 135,537 | 146,579 | 138,173 | 131,541 | 117,833 | ||||||||||||||||||
| Preferred dividends |
1,845 | — | — | — | — | 7,941 | ||||||||||||||||||
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| Total Fixed Charges and Preferred Dividends |
66,992 | 135,537 | 146,579 | 138,173 | 131,541 | 125,774 | ||||||||||||||||||
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| Plus amortization of capitalized interest |
1,075 | 1,956 | 1,787 | 1,528 | 724 | 315 | ||||||||||||||||||
| Plus distributed income of investments in unconsolidated joint ventures |
5,448 | 9,636 | 15,870 | 15,211 | 10,941 | 8,985 | ||||||||||||||||||
| Less capitalized interest |
(1,105 | ) | (2,087 | ) | (2,584 | ) | (5,613 | ) | (15,968 | ) | (16,259 | ) | ||||||||||||
| Less preferred dividends |
(1,845 | ) | — | — | — | — | (7,941 | ) | ||||||||||||||||
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| Total Earnings |
$ | 43,803 | $ | 44,472 | $ | 77,588 | $ | 35,330 | $ | 99,595 | $ | 119,645 | ||||||||||||
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| Ratio of Earnings to Fixed Charges |
0.67 | 0.33 | 0.53 | 0.26 | 0.76 | 1.02 | ||||||||||||||||||
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| Ratio of Earnings to Combined Fixed Charges and Preferred Dividends |
0.65 | 0.33 | 0.53 | 0.26 | 0.76 | 0.95 | ||||||||||||||||||