Attached files
file | filename |
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EX-10.11 - EX-10.11 - Public Storage | psa-20151231ex10116996e.htm |
EX-31.1 - EX-31.1 - Public Storage | psa-20151231xex311.htm |
EX-10.12 - EX-10.12 - Public Storage | psa-20151231ex101227ce4.htm |
EX-10.14 - EX-10.14 - Public Storage | psa-20151231ex10145e220.htm |
EX-23 - EX-23 - Public Storage | psa-20151231xex23.htm |
EX-21 - EX-21 - Public Storage | psa-20151231ex211dc63f1.htm |
EX-10.5.4 - EX-10.5.4 - Public Storage | psa-20151231ex10547caa6.htm |
EX-10.13 - EX-10.13 - Public Storage | psa-20151231ex101308fcd.htm |
EX-31.2 - EX-31.2 - Public Storage | psa-20151231xex312.htm |
10-K - 10-K - Public Storage | psa-20151231x10k.htm |
EX-32 - EX-32 - Public Storage | psa-20151231xex32.htm |
PUBLIC STORAGE
EXHIBIT 12 – STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, |
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2015 |
2014 |
2013 |
2012 |
2011 |
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Income from continuing operations |
$ |
1,317,689 |
$ |
1,149,955 |
$ |
1,057,531 |
$ |
930,161 |
$ |
833,143 | ||||
Less: Income allocated to noncontrolling interests which do not |
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have fixed charges |
(6,088) | (5,432) | (4,883) | (3,505) | (11,993) | |||||||||
Equity in earnings of investments greater than cash |
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distributions from investment |
(15,242) | (4,809) | (11,709) | (904) | (5,197) | |||||||||
Add back: interest expense |
610 | 6,781 | 6,444 | 19,813 | 24,222 | |||||||||
Total earnings available to cover fixed charges |
$ |
1,296,969 |
$ |
1,146,495 |
$ |
1,047,383 |
$ |
945,565 |
$ |
840,175 | ||||
Total fixed charges - interest expense (including capitalized interest) |
$ |
3,299 |
$ |
8,340 |
$ |
9,339 |
$ |
20,210 |
$ |
24,586 | ||||
Cumulative preferred share cash dividends |
$ |
245,097 |
$ |
232,636 |
$ |
204,312 |
$ |
205,241 |
$ |
224,877 | ||||
Allocations pursuant to EITF Topic D-42 |
8,897 |
- |
- |
61,696 | 35,585 | |||||||||
Total preferred distributions |
$ |
253,994 |
$ |
232,636 |
$ |
204,312 |
$ |
266,937 |
$ |
260,462 | ||||
Total combined fixed charges and preferred share income allocations |
$ |
257,293 |
$ |
240,976 |
$ |
213,651 |
$ |
287,147 |
$ |
285,048 | ||||
Ratio of earnings to fixed charges |
393.14 x |
137.47 x |
112.15 x |
46.79 x |
34.17 x |
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Ratio of earnings to fixed charges and preferred share income |
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allocations |
5.04 x |
4.76 x |
4.90 x |
3.29 x |
2.95 x |
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Exhibit 12