RPT Realty - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - October 30, 2015

Attached files

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10-Q - 10-Q - RPT Realtyrpt-2015930x10q.htm
EX-10.1 - EXHIBIT 10.1 - RPT Realtyrptex101aignotes.htm
EX-32.2 - EXHIBIT 32.2 - RPT Realtyrpt-ex322_2015930xq3.htm
EX-32.1 - EXHIBIT 32.1 - RPT Realtyrpt-ex321_2015930xq3.htm
EX-31.1 - EXHIBIT 31.1 - RPT Realtyrpt-ex311_2015930xq3.htm
EX-31.2 - EXHIBIT 31.2 - RPT Realtyrpt-ex312_2015930xq3.htm


Exhibit 12.1

 
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
 
 
2015
 
2014
 
2015
 
2014
 
 
 
 
(In thousands, except ratio computation)
 
Pretax income before adjustment for noncontrolling interest
 
$34,635
 
$6,265
 
$52,145
 
$10,162
 
 
 
 
 
 
 
 
 
 
 
 
Add back:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
11,099

 
9,770

 
32,388

 
26,763

 
 
Distributed income of equity investees
 
509

 
406

 
9,583

 
1,759

 
 
Equity in loss of equity investees
 
—

 
—

 
—

 
336

 
 
 
 
 
 
 
 
 
 
 
 
Deduct:
 
 
 
 
 
 
 
 
 
 
Equity in earnings of equity investees
 
(13,977
)
 
(455
)
 
(16,972
)
 
—

 
 
Capitalized interest
 
(566
)
 
(722
)
 
(1,054
)
 
(1,606
)
 
Earnings as Defined
 
$31,700
 
$15,264
 
$76,090
 
$37,414
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense including amortization of deferred financing fees
 
$10,480
 
$8,987
 
$31,171
 
$24,991
 
 
Capitalized interest
 
566

 
722

 
1,054

 
1,606

 
 
Interest portion of rent expense
 
53

 
61

 
163

 
166

 
Fixed Charges
 
11,099

 
9,770

 
32,388

 
26,763

 
 
Preferred share dividends
 
1,675

 
1,813

 
5,162

 
5,438

 
Combined Fixed Charges and Preferred Dividends
 
$12,774
 
$11,583
 
$37,550
 
$32,201
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
 
2.48
 
1.32

 
2.03

 
1.16

 
 
 
 
 
 
 
 
 
 
 



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