Attached files
| file | filename |
|---|---|
| 8-K - 8-K - MACK CALI REALTY CORP | a12-26961_18k.htm |
| EX-1.1 - EX-1.1 - MACK CALI REALTY CORP | a12-26961_1ex1d1.htm |
| EX-99.1 - EX-99.1 - MACK CALI REALTY CORP | a12-26961_1ex99d1.htm |
Exhibit 12.1
Mack-Cali Realty, L.P.
Computation of Ratios of Earnings to Fixed Charges
(Dollar Amounts in Thousands)
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Nine months |
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For the Year Ended December 31, |
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September 30, 2012 |
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2011 |
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2010 |
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2009 |
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2008 |
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2007 |
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EARNINGS: |
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Per F/S: Income from continuing operations |
|
54,096 |
|
81,222 |
|
66,629 |
|
77,905 |
|
63,466 |
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86,961 |
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Add back: Loss of Unconcolidated JVs/(Deduct): Equity in Earnings of Unconsolidated JV’s |
|
(4,751 |
) |
(2,022 |
) |
(2,276 |
) |
5,560 |
|
39,752 |
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5,918 |
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Income from continuing operations before noncont int. and equity in earnings of unconsolidated jv’s |
|
49,345 |
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79,200 |
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64,353 |
|
83,465 |
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103,218 |
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92,879 |
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Add: |
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Fixed Charges (see calculation below) |
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94,313 |
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125,403 |
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150,439 |
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140,723 |
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131,955 |
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129,751 |
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Amortization of capitalized interest |
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1,458 |
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1,913 |
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2,070 |
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2,028 |
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1,950 |
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1,849 |
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Distributed income of equity investees |
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2,680 |
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3,301 |
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2,311 |
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2,637 |
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5,784 |
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1,875 |
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Subtotal |
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147,796 |
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209,817 |
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219,173 |
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228,853 |
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242,907 |
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226,354 |
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Subtract: |
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Interest capitalized |
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(1,427 |
) |
(1,081 |
) |
(1,912 |
) |
(1,401 |
) |
(5,799 |
) |
(5,101 |
) | ||||||
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Earnings |
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$ |
146,369 |
|
$ |
208,736 |
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$ |
217,261 |
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$ |
227,452 |
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$ |
237,108 |
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$ |
221,253 |
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FIXED CHARGES: |
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Interest expense (includes amortization) |
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92,784 |
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124,187 |
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148,364 |
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139,077 |
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125,922 |
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124,429 |
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Interest capitalized |
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1,427 |
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1,081 |
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1,912 |
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1,401 |
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5,799 |
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5,101 |
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Interest portion (1/3) of ground rents on land leases |
|
102 |
|
135 |
|
163 |
|
245 |
|
234 |
|
221 |
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Total fixed charges |
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$ |
94,313 |
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$ |
125,403 |
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$ |
150,439 |
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$ |
140,723 |
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$ |
131,955 |
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$ |
129,751 |
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Ratio of earnings to fixed charges |
|
1.6 |
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1.7 |
|
1.4 |
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1.6 |
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1.8 |
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1.7 |
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