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Content analysis
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H.S. freshman Avg
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Exhibit 12.1
REALTY INCOME CORPORATION
STATEMENTS RE COMPUTATION OF RATIOS
( dollars in thousands )
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| Years ended December 31, |
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| 2013 |
| 2012 |
| 2011 |
| 2010 |
| 2009 | ||||||
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Fixed charges: |
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Interest |
| $ | 171,552 |
| $ | 115,693 |
| $ | 103,036 |
| $ | 89,349 |
| $ | 81,860 |
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Amortization of fees |
| 9,364 |
| 6,849 |
| 5,265 |
| 3,888 |
| 3,668 |
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Interest capitalized |
| 537 |
| 498 |
| 438 |
| 10 |
| 5 |
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Fixed charges |
| $ | 181,453 |
| $ | 123,040 |
| $ | 108,739 |
| $ | 93,247 |
| $ | 85,533 |
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Income from continuing operations |
| $179,180 |
| $140,719 |
| $139,622 |
| $111,422 |
| $107,736 |
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Plus fixed charges |
| 181,453 |
| 123,040 |
| 108,739 |
| 93,247 |
| 85,533 |
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Less interest capitalized |
| (537 | ) | (498 | ) | (438 | ) | (10 | ) | (5 | ) | |||||
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Earnings from continuing operations before fixed charges |
| $ | 360,096 |
| $ | 263,261 |
| $ | 247,923 |
| $ | 204,659 |
| $ | 193,264 |
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Divided by fixed charges |
| $ | 181,453 |
| $ | 123,040 |
| $ | 108,739 |
| $ | 93,247 |
| $ | 85,533 |
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Ratio of earnings from continuing operations to fixed charges |
| 2.0 |
| 2.1 |
| 2.3 |
| 2.2 |
| 2.3 |
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Ratio of earnings from continuing operations to combined fixed charges and preferred stock dividends |
| 1.6 |
| 1.6 |
| 1.9 |
| 1.7 |
| 1.8 |
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Preferred stock dividends |
| $41,930 |
| $40,918 |
| $24,253 |
| $24,253 |
| $24,253 |
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