Nine Months Ended | Fiscal Year Ended April 30, | |||||||||||||||||||||||
| January 31, 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
| Earnings | ||||||||||||||||||||||||
| Income from continuing operations | $ | 14,629 | $ | 9,783 | $ | 4,475 | $ | 5,996 | $ | 9,858 | $ | 13,945 | ||||||||||||
| Add: | ||||||||||||||||||||||||
| Combined fixed charges and preferred distributions (see below) | 55,405 | 68,172 | 64,954 | 71,497 | 72,027 | 66,317 | ||||||||||||||||||
| Less: | ||||||||||||||||||||||||
| (Income) loss noncontrolling interests – consolidated real estate entities | (547 | ) | (135 | ) | 180 | (22 | ) | 40 | 136 | |||||||||||||||
| Interest capitalized | (438 | ) | (571 | ) | (57 | ) | (19 | ) | (912 | ) | (506 | ) | ||||||||||||
| Preferred distributions | (6,350 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | (2,372 | ) | ||||||||||||
| Total earnings | $ | 62,699 | $ | 74,877 | $ | 67,180 | $ | 75,080 | $ | 78,641 | $ | 77,520 | ||||||||||||
| Fixed charges | ||||||||||||||||||||||||
| Interest expensed | $ | 48,617 | $ | 65,229 | $ | 62,525 | $ | 69,106 | $ | 68,743 | $ | 63,439 | ||||||||||||
| Interest capitalized | 438 | 571 | 57 | 19 | 912 | 506 | ||||||||||||||||||
| Total fixed charges | $ | 49,055 | $ | 65,800 | $ | 62,582 | $ | 69,125 | $ | 69,655 | $ | 63,945 | ||||||||||||
| Preferred distributions | 6,350 | 2,372 | 2,372 | 2,372 | 2,372 | 2,372 | ||||||||||||||||||
| Total combined fixed charges and preferred distributions | $ | 55,405 | $ | 68,172 | $ | 64,954 | $ | 71,497 | $ | 72,027 | $ | 66,317 | ||||||||||||
| Ratio of earnings to fixed charges | 1.28 | 1.14 | 1.07 | 1.09 | 1.13 | 1.21 | ||||||||||||||||||
| Ratio of earnings to combined fixed charges and preferred distributions | 1.13 | 1.10 | 1.03 | 1.05 | 1.09 | 1.17 | ||||||||||||||||||
