Exhibit 12.1
Historical | Pro Forma | |||||||||||||||
Fiscal year ended December 31, | Fiscal year ended December 31, | |||||||||||||||
2009 | 2008 | 2007 | 2009 | |||||||||||||
Earnings | ||||||||||||||||
Net income (loss) attributable to Partners | $ | 21,914 | $ | 75,740 | $ | 91,888 | $ | 24,457 | ||||||||
Income from joint ventures | (1,586 | ) | (2,673 | ) | (1,724 | ) | (1,586 | ) | ||||||||
Fixed charges | 123,200 | 109,610 | 110,435 | 148,223 | ||||||||||||
Amortization of capitalized interest | 6,657 | 6,745 | 6,929 | 6,657 | ||||||||||||
Distributions from joint ventures | 3,161 | 3,691 | 3,681 | 3,161 | ||||||||||||
Capitalized interest | (13,701 | ) | (6,020 | ) | (1,848 | ) | (13,701 | ) | ||||||||
Earnings before fixed charges | $ | 139,645 | $ | 187,093 | $ | 209,361 | $ | 167,211 | ||||||||
Fixed Charges | ||||||||||||||||
Interest expense | $ | 108,388 | $ | 102,669 | $ | 107,906 | $ | 133,411 | ||||||||
Capitalized interest | 13,701 | 6,020 | 1,848 | 13,701 | ||||||||||||
Interest implicit in rentals | 1,111 | 921 | 681 | 1,111 | ||||||||||||
Total fixed charges | $ | 123,200 | $ | 109,610 | $ | 110,435 | $ | 148,223 | ||||||||
Ratio of earnings to fixed charges | 1.1 | 1.7 | 1.9 | 1.1 | ||||||||||||