Attached files
Exhibit 12.1
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Six months ended June 30, | |||||||
2014 | 2013 | ||||||
Earnings: | |||||||
Income before equity in earnings of unconsolidated joint ventures and noncontrolling interests | $ | 31,614 | $ | 32,912 | |||
Add: | |||||||
Distributed income of unconsolidated joint ventures | 2,699 | 2,129 | |||||
Amortization of capitalized interest | 256 | 256 | |||||
Interest expense | 29,502 | 25,459 | |||||
Portion of rent expense - interest factor | 1,051 | 1,018 | |||||
Total earnings | 65,122 | 61,774 | |||||
Fixed charges: | |||||||
Interest expense | 29,502 | 25,459 | |||||
Capitalized interest and capitalized amortization of debt issue costs | 2,125 | 453 | |||||
Portion of rent expense - interest factor | 1,051 | 1,018 | |||||
Total fixed charges | $ | 32,678 | $ | 26,930 | |||
Ratio of earnings to fixed charges | 2.0 | 2.3 |