EXHIBIT 12.1
For Period Ended September 30,2009
(in thousands, except ratio computation)
Nine months ended, | Twelve months ended December 31, | |||||||||||||||||||||||
September 30, 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Income From Continuing Operations | $ | 64,724 | $ | 36,560 | $ | 49,903 | $ | 50,650 | $ | 48,485 | $ | 27,840 | ||||||||||||
Adjustments | ||||||||||||||||||||||||
Equity in income (loss) in unconsolidated joint ventures | (37 | ) | (108 | ) | - | (1,853 | ) | - | - | |||||||||||||||
Fixed charges | 57,564 | 65,413 | 71,392 | 61,036 | 51,853 | 45,255 | ||||||||||||||||||
Distributed income of equity investees | 264 | 170 | - | 3,308 | (12 | ) | 3,119 | |||||||||||||||||
Capitalized interest | (1,004 | ) | (2,933 | ) | (3,194 | ) | (5,820 | ) | (3,354 | ) | (3,204 | ) | ||||||||||||
Earnings as defined | $ | 121,511 | $ | 99,102 | $ | 118,101 | $ | 107,321 | $ | 96,972 | $ | 73,010 | ||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest expense | 53,788 | 62,753 | 68,622 | 56,963 | 52,049 | 45,593 | ||||||||||||||||||
Capitalized interest | 1,004 | 2,933 | 3,194 | 5,820 | 3,354 | 3,204 | ||||||||||||||||||
Amortization of debt (discounts)/premiums | 1,637 | (1,902 | ) | (2,102 | ) | (3,231 | ) | (4,999 | ) | (4,871 | ) | |||||||||||||
Amortization of loan fees fixed charges | 1,135 | 1,629 | 1,678 | 1,484 | 1,449 | 1,329 | ||||||||||||||||||
Fixed charges | $ | 57,564 | $ | 65,413 | $ | 71,392 | $ | 61,036 | $ | 51,853 | $ | 45,255 | ||||||||||||
Ratio of earnings to fixed charges | 2.11 | 1.52 | 1.65 | 1.76 | 1.87 | 1.61 |