EPR Properties (EPR) 10-Q 2009 Q2 Quarterly report

EXHIBIT 12.2

ENTERTAINMENT PROPERTIES TRUST
COMPUTATION OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
(dollars in thousands)

	Six Months
	Ended June 30,			Year Ended December 31,
	2009			2008			2007			2006			2005			2004
Earnings:
Income before gain on sale of land, equity in income from joint ventures, noncontrolling interests and discontinued operations	$	50,090		$	125,568		$	97,503		$	80,535		$	68,188			53,732
Fixed charges before preferred distributions		35,405			72,658			61,376			49,092			44,203			41,678
Distributions from equity investments		493			2,262			1,239			874			855			811
Capitalized interest		(434	)		(797	)		(494	)		(100	)		(160	)		(688	)
Adjusted Earnings	$	85,554		$	199,691		$	159,624		$	130,401		$	113,086			95,533
Fixed Charges:
Interest expense, net (including amortization of deferred financing fees)	$	34,919		$	70,951		$	60,505		$	48,866		$	43,749			40,011
Interest income		52			910			377			126			294			979
Capitalized interest		434			797			494			100			160			688
Preferred distributions		15,103			28,266			21,312			11,857			11,353			6,213
Combined Fixed Charges and Preferred Distributions	$	50,508		$	100,924		$	82,688		$	60,949		$	55,556			47,891
Ratio of Earnings to Combined Fixed Charges and Preferred Distributions		1.7x			2.0x			1.9x			2.1x			2.0x			2.0x