Attached files

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EX-32.1 - EXHIBIT 32.1 - CBL & ASSOCIATES PROPERTIES INCexhibit-321x9302016.htm
10-Q - 10-Q - 9.30.2016 - CBL & ASSOCIATES PROPERTIES INCcbl-9302016x10q.htm
EX-32.4 - EXHIBIT 32.4 - CBL & ASSOCIATES PROPERTIES INCexhibit-324x9302016.htm
EX-32.3 - EXHIBIT 32.3 - CBL & ASSOCIATES PROPERTIES INCexhibit323-9302016.htm
EX-32.2 - EXHIBIT 32.2 - CBL & ASSOCIATES PROPERTIES INCexhibit322-9302016.htm
EX-31.4 - EXHIBIT 31.4 - CBL & ASSOCIATES PROPERTIES INCexhibit-314x9302016.htm
EX-31.3 - EXHIBIT 31.3 - CBL & ASSOCIATES PROPERTIES INCexhibit-313x9302016.htm
EX-31.2 - EXHIBIT 31.2 - CBL & ASSOCIATES PROPERTIES INCexhibit-312x9302016.htm
EX-31.1 - EXHIBIT 31.1 - CBL & ASSOCIATES PROPERTIES INCexhibit-311x9302016.htm
EX-12.3 - EXHIBIT 12.3 - CBL & ASSOCIATES PROPERTIES INCexhibit-123x9302016.htm
EX-12.2 - EXHIBIT 12.2 - CBL & ASSOCIATES PROPERTIES INCexhibit-122x9302016.htm
EX-12.1 - EXHIBIT 12.1 - CBL & ASSOCIATES PROPERTIES INCexhibit-121x9302016.htm


Exhibit 12.4

CBL & Associates Limited Partnership
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
Nine Months Ended
September 30,
 
Year Ended December 31,
 
2016
 
2015
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before discontinued operations, equity
      in earnings and noncontrolling interests
$
5,468

 
$
135,760

 
$
103,756

 
$
242,675

 
$
105,006

 
$
179,140

 
$
148,817

Fixed charges less capitalized interest
162,788

 
174,362

 
229,458

 
239,844

 
231,934

 
242,357

 
262,978

Distributed income of equity investees
12,366

 
15,697

 
21,092

 
21,866

 
15,995

 
17,074

 
9,586

Equity in losses of equity investees for which
      charges arise from guarantees

 

 
(197
)
 
(63
)
 
(44
)
 

 

Noncontrolling interest in earnings of subsidiaries that
      have not incurred fixed charges
(108
)
 
(196
)
 
(152
)
 
(273
)
 
(3,069
)
 
(3,729
)
 
(4,158
)
Total earnings
$
180,514

 
$
325,623

 
$
353,957

 
$
504,049

 
$
349,822

 
$
434,842

 
$
417,223

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (1):
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (2)
$
162,788

 
$
174,362

 
$
229,458

 
$
239,844

 
$
231,934

 
$
242,357

 
$
262,978

Capitalized interest
1,553

 
3,085

 
4,153

 
7,246

 
5,837

 
2,671

 
4,955

    Total fixed charges
$
164,341

 
$
177,447

 
$
233,611

 
$
247,090

 
$
237,771

 
$
245,028

 
$
267,933

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.10

 
1.84

 
1.52

 
2.04

 
1.47

 
1.77

 
1.56

 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1)
The interest portion of rental expense is not calculated because the rental expense of the Operating Partnership is not significant.
(2)
Interest expense includes amortization of capitalized debt expenses and amortization of premiums and discounts.