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SL Green Realty Corp.
Ratio of Earnings to Fixed Charge & Preferred Stock Dividends
| Year Ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||
Earnings | ||||||||||||||||
Income (loss) from continuing operations | $ | 74,472 | $ | 106,101 | $ | 62,159 | $ | 40,544 | $ | 24,021 | ||||||
Add: JV cash distributions | 525,372 | 128,305 | 112,540 | 200,857 | 193,144 | |||||||||||
Interest | 279,990 | 255,072 | 94,799 | 75,819 | 61,197 | |||||||||||
Amortization of loan costs expensed | 6,436 | 15,893 | 4,424 | 4,461 | 3,274 | |||||||||||
Portion of rent expense representative of interest | 24,346 | 23,276 | 17,850 | 16,915 | 12,788 | |||||||||||
Total earnings | $ | 910,616 | $ | 528,647 | $ | 291,772 | $ | 338,596 | $ | 294,424 | ||||||
Fixed Charges and Preferred Stock Dividends | ||||||||||||||||
Interest | $ | 279,990 | $ | 255,072 | $ | 94,799 | $ | 75,819 | $ | 61,197 | ||||||
Preferred stock dividends | 19,875 | 19,875 | 19,875 | 19,875 | 16,258 | |||||||||||
Interest capitalized | (179 | ) | 5,118 | 8,529 | 6,849 | 433 | ||||||||||
Portion of rent expense representative of interest | 24,346 | 23,276 | 17,850 | 16,915 | 12,788 | |||||||||||
Amortization of loan costs expensed | 6,436 | 15,893 | 4,424 | 4,461 | 3,274 | |||||||||||
Total Fixed Charges and Preferred Stock Dividends | $ | 330,468 | $ | 319,234 | $ | 145,477 | $ | 123,919 | $ | 93,950 | ||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 2.76 | 1.66 | 2.01 | 2.73 | 3.13 |
SL Green Realty Corp. Ratio of Earnings to Fixed Charge & Preferred Stock Dividends