Equity One (EQY) 10-Q 2015 Q3 Quarterly report

													Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands, except ratio computation)
	Nine Months Ended			Year Ended December 31,
	September 30, 2015			2014			2013			2012			2011			2010
Pretax income (loss) from continuing operations before adjustment for noncontrolling interest	$	59,061		$	58,984		$	48,479		$	(4,192	)	$	17,431		$	(3,928	)
Adjustments:
Equity in (income) loss of unconsolidated joint ventures	(4,433		)	(10,990		)	(1,648		)	(542		)	(4,829		)	116
Fixed charges	45,745			71,396			74,235			80,394			89,929			82,090
Distributed income of equity investees	2,699			3,121			53			3,337			1,465			346
Capitalized interest	(3,702		)	(4,969		)	(2,863		)	(4,742		)	(2,273		)	(2,244		)
Earnings as defined	$	99,370		$	117,542		$	118,256		$	74,255		$	101,723		$	76,380
Fixed charges
Interest expense	$	41,385		$	66,431		$	71,429		$	75,794		$	84,246		$	75,104
Capitalized interest	3,702			4,969			2,863			4,742			2,273			2,244
(Accretion) amortization of debt (premiums) discounts, net	(964		)	(2,400		)	(2,478		)	(2,627		)	1,178			2,818
Amortization of loan fees	1,622			2,396			2,421			2,485			2,232			1,924
Fixed charges	$	45,745		$	71,396		$	74,235		$	80,394		$	89,929		$	82,090
Ratio of earning to fixed charges	2.17			1.65			1.59			*			1.13			*

^* Earnings for the years ended December 31, 2012 and 2010 were insufficient to cover combined fixed charges by approximately $6.1 million and $5.7 million, respectively. Other than the years ended December 31, 2012 and 2010, there are no periods in which earnings were insufficient to cover combined fixed charges.