Exhibit 12.1
REALTY INCOME CORPORATION
STATEMENTS RE COMPUTATION OF RATIOS
(dollars in thousands)
|
| 9 months |
| Years ended December 31, |
| ||||||||||||||
|
| 9/30/2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
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Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
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Interest |
| $ | 172,430 |
| $ | 205,486 |
| $ | 172,078 |
| $ | 116,294 |
| $ | 103,821 |
| $ | 89,906 |
|
Amortization of fees |
| 8,668 |
| 10,880 |
| 9,364 |
| 6,849 |
| 5,265 |
| 3,888 |
| ||||||
Interest capitalized |
| 463 |
| 444 |
| 537 |
| 498 |
| 438 |
| 10 |
| ||||||
Fixed charges |
| $ | 181,561 |
| $ | 216,810 |
| $ | 181,979 |
| $ | 123,641 |
| $ | 109,524 |
| $ | 93,804 |
|
Income from continuing operations |
| $ | 201,744 |
| $ | 269,140 |
| $ | 180,613 |
| $ | 141,895 |
| $ | 140,659 |
| $ | 112,326 |
|
Plus fixed charges |
| 181,561 |
| 216,810 |
| 181,979 |
| 123,641 |
| 109,524 |
| 93,804 |
| ||||||
Less interest capitalized |
| (463 | ) | (444 | ) | (537 | ) | (498 | ) | (438 | ) | (10 | ) | ||||||
Earnings from continuing operations before fixed charges |
| $ | 382,842 |
| $ | 485,506 |
| $ | 362,055 |
| $ | 265,038 |
| $ | 249,745 |
| $ | 206,120 |
|
Divided by fixed charges |
| $ | 181,561 |
| $ | 216,810 |
| $ | 181,979 |
| $ | 123,641 |
| $ | 109,524 |
| $ | 93,804 |
|
Ratio of earnings from continuing operations to fixed charges |
| 2.1 |
| 2.2 |
| 2.0 |
| 2.1 |
| 2.3 |
| 2.2 |
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Ratio of earnings from continuing operations to combined fixed charges and preferred stock dividends |
| 1.9 |
| 1.9 |
| 1.6 |
| 1.6 |
| 1.9 |
| 1.7 |
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Preferred stock dividends |
| $ | 20,310 |
| $ | 37,062 |
| $ | 41,930 |
| $ | 40,918 |
| $ | 24,253 |
| $ | 24,253 |
|
