Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - EPR PROPERTIES | Financial_Report.xls |
| EX-31.1 - CERTIFICATION OF DAVID M. BRAIN PURSUANT TO SECTION 302 - EPR PROPERTIES | exhibit311-93014x10q.htm |
| EX-32.2 - CERTIFICATION OF CFO PURSUANT TO 18 USC 1350 - EPR PROPERTIES | exhibit322-93014x10q.htm |
| EX-12.2 - COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES - EPR PROPERTIES | exhibit122-930x14x10q.htm |
| EX-32.1 - CERTIFICATION BY CEO PURSUANT TO 18 USC 1350 - EPR PROPERTIES | exhibit321-93014x10q.htm |
| EX-10.1 - LENDER JOINDER AGREEMENT - EPR PROPERTIES | exhibit101-93014x10q.htm |
| 10-Q - 10-Q - EPR PROPERTIES | epr-9301410xq.htm |
| EX-31.2 - CERTIFICATION OF MARK A. PETERSON PURSUANT TO SECTION 302 - EPR PROPERTIES | exhibit312-93014x10q.htm |
EXHIBIT 12.1
EPR PROPERTIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before equity in income from joint ventures and other items (1) | $ | 125,517 | $ | 152,193 | $ | 140,881 | $ | 127,241 | $ | 114,793 | $ | 32,901 | ||||||||||||
Fixed charges | 66,382 | 83,988 | 77,738 | 71,980 | 69,018 | 62,375 | ||||||||||||||||||
Distributions from equity investments | 810 | 985 | 1,046 | 2,848 | 2,482 | 986 | ||||||||||||||||||
Capitalized interest | (4,982 | ) | (2,763 | ) | (859 | ) | (498 | ) | (383 | ) | (600 | ) | ||||||||||||
Adjusted Earnings | $ | 187,727 | $ | 234,403 | $ | 218,806 | $ | 201,571 | $ | 185,910 | $ | 95,662 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, net (including amortization of deferred financing fees) | $ | 61,254 | $ | 81,056 | $ | 76,656 | $ | 71,295 | $ | 68,462 | $ | 61,579 | ||||||||||||
Interest within rental expense (2) | 121 | 145 | 156 | 154 | 136 | 121 | ||||||||||||||||||
Interest income | 25 | 24 | 67 | 33 | 37 | 75 | ||||||||||||||||||
Capitalized interest | 4,982 | 2,763 | 859 | 498 | 383 | 600 | ||||||||||||||||||
Total Fixed Charges | $ | 66,382 | $ | 83,988 | $ | 77,738 | $ | 71,980 | $ | 69,018 | $ | 62,375 | ||||||||||||
Ratio of Earnings to Fixed Charges | 2.8 | x | 2.8 | x | 2.8 | x | 2.8 | x | 2.7 | x | 1.5 | x | ||||||||||||
(1) | Earnings before equity in income from joint ventures and other items for the nine months ended September 30, 2014 includes$3.8 million in provision for loan losses. Earnings before equity in income from joint ventures and other items for the year ended December 31, 2013 includes $6.2 million in costs associated with loan refinancing and a $4.5 million gain on early extinguishment of debt. Earnings before equity in income from joint ventures and other items for the year ended December 31, 2012 includes $3.1 million in impairment charges for properties held and used and $0.6 million in costs associated with loan refinancing. Earnings before equity in income from joint ventures and other items for the year ended December 31, 2011 includes $2.5 million in impairment charges for properties held and used and $1.9 million in costs associated with loan refinancing. Earnings before equity in income from joint ventures and other items for the year ended December 31, 2010 includes a $0.5 million impairment charge for other assets, $0.7 million in provision for loan losses and $11.4 million in costs associated with loan refinancing. Earnings before equity in income from joint ventures and other items for the year ended December 31, 2009 includes $71.0 million in provision for loan losses and $0.1 million in costs associated with loan refinancing. |
(2) | Interest within rental expense represents one-third of rental expense (the approximate portion of rental expense representing interest). |