REALTY INCOME CORPORATION
STATEMENTS RE COMPUTATION OF RATIOS
(dollars in thousands)
| | Six months ended June 30, 2012 | Years ended December 31, | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||
Fixed charges: | |||||||||||||||||||
Interest | $ | 54,910 | $ | 103,229 | $ | 89,349 | $ | 81,860 | $ | 90,083 | $ | 61,640 | |||||||
Amortization of fees | 2,848 | 5,072 | 3,888 | 3,668 | 3,873 | 2,691 | |||||||||||||
Interest capitalized | 277 | 438 | 10 | 5 | 92 | 993 | |||||||||||||
Fixed charges | $ | 58,035 | $ | 108,739 | $ | 93,247 | $ | 85,533 | $ | 94,048 | $ | 65,324 | |||||||
Income from continuing operations | $ | 77,813 | $ | 149,181 | $ | 118,676 | $ | 116,699 | $ | 106,123 | $ | 118,879 | |||||||
Plus fixed charges | 58,035 | 108,739 | 93,247 | 85,533 | 94,048 | 65,324 | |||||||||||||
Less interest capitalized | (277 | ) | (438 | ) | (10 | ) | (5 | ) | (92 | ) | (993 | ) | |||||||
Earnings from continuing operations before fixed charges | $ | 135,571 | $ | 257,482 | $ | 211,913 | $ | 202,227 | $ | 200,079 | $ | 183,210 | |||||||
Divided by fixed charges | $ | 58,035 | $ | 108,739 | $ | 93,247 | $ | 85,533 | $ | 94,048 | $ | 65,324 | |||||||
Ratio of earnings from continuing operations to fixed charges | 2.3 | 2.4 | 2.3 | 2.4 | 2.1 | 2.8 | |||||||||||||
Ratio of earnings from continuing operations to combined fixed charges and preferred stock dividends | 1.7 | 1.9 | 1.8 | 1.8 | 1.7 | 2.0 | |||||||||||||
Preferred stock dividends | $ | 19,953 | $ | 24,253 | $ | 24,253 | $ | 24,253 | $ | 24,253 | $ | 24,253 | |||||||
