Nine Months Ended | Fiscal Year Ended April 30, | ||||||||||||||||||||||||
| January 31, 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||
| Earnings | |||||||||||||||||||||||||
| Income from continuing operations | $ | 4,969 | $ | 4,391 | $ | 5,155 | $ | 10,388 | $ | 14,459 | $ | 14,335 | |||||||||||||
| Add: | |||||||||||||||||||||||||
| Combined fixed charges and preferred distributions (see below) | 50,785 | 67,882 | 71,497 | 72,027 | 66,317 | 61,280 | |||||||||||||||||||
| Less: | |||||||||||||||||||||||||
| (Income) loss noncontrolling interests – consolidated real estate entities | (29 | ) | 180 | (22 | ) | 40 | 136 | 26 | |||||||||||||||||
| Interest capitalized | (230 | ) | (57 | ) | (19 | ) | (912 | ) | (506 | ) | (69 | ) | |||||||||||||
| Preferred distributions | (1,779 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | |||||||||||||
| Total earnings | $ | 53,716 | $ | 70,024 | $ | 74,239 | $ | 79,171 | $ | 78,034 | $ | 73,200 | |||||||||||||
| Fixed charges | |||||||||||||||||||||||||
| Interest expensed | $ | 48,776 | $ | 65,453 | $ | 69,106 | $ | 68,743 | $ | 63,439 | $ | 58,839 | |||||||||||||
| Interest capitalized | 230 | 57 | 19 | 912 | 506 | 69 | |||||||||||||||||||
| Total Fixed charges | $ | 49,006 | $ | 65,510 | $ | 69,125 | $ | 69,655 | $ | 63,945 | $ | 58,908 | |||||||||||||
| Preferred distributions | 1,779 | 2,372 | 2,372 | 2,372 | 2,372 | 2,372 | |||||||||||||||||||
| Total Combined fixed charges and preferred distributions | $ | 50,785 | $ | 67,882 | $ | 71,497 | $ | 72,027 | $ | 66,317 | $ | 61,280 | |||||||||||||
| Ratio of earnings to fixed charges | 1.10 | 1.07 | 1.07 | 1.14 | 1.22 | 1.24 | |||||||||||||||||||
| Ratio of earnings to combined fixed charges and preferred distributions | 1.06 | 1.03 | 1.04 | 1.10 | 1.18 | 1.19 | |||||||||||||||||||
