EXHIBIT 12.1 | |||||||
WEINGARTEN REALTY INVESTORS | |||||||
COMPUTATION OF RATIOS OF EARNINGS AND FUNDS FROM OPERATIONS | |||||||
TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS | |||||||
(Amounts in thousands) | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2007 | 2006 | ||||||
Income from continuing operations | $ | 36,985 | $ | 32,592 | |||
Add: | |||||||
Portion of rents representative of the interest factor | 257 | 243 | |||||
Interest on indebtedness | 36,473 | 34,437 | |||||
Out-of-market mortgage adjustment | 1,770 | 1,826 | |||||
Preferred Dividends | 4,728 | 2,525 | |||||
Net income as adjusted | $ | 80,213 | $ | 71,623 | |||
Fixed charges: | |||||||
Interest on indebtedness | $ | 36,473 | $ | 34,437 | |||
Out-of-market mortgage adjustment | 1,770 | 1,826 | |||||
Capitalized interest | 5,855 | 809 | |||||
Preferred Dividends | 4,728 | 2,525 | |||||
Portion of rents representative of the interest factor | 257 | 243 | |||||
Fixed charges | $ | 49,083 | $ | 39,840 | |||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES | |||||||
CHARGES AND PREFERRED DIVIDENDS | 1.63 | 1.80 | |||||
Net income available to common shareholders | $ | 46,657 | $ | 52,084 | |||
Depreciation and amortization | 34,036 | 32,449 | |||||
Gain on sale of property | (14,945 | ) | (18,699 | ) | |||
Funds from operations | 65,748 | 65,834 | |||||
Add: | |||||||
Portion of rents representative of the interest factor | 257 | 243 | |||||
Preferred dividends | 4,728 | 2,525 | |||||
Interest on indebtedness | 36,473 | 34,437 | |||||
Out-of-market mortgage adjustment | 1,770 | 1,826 | |||||
Funds from operations as adjusted | $ | 108,976 | $ | 104,865 | |||
RATIO OF FUNDS FROM OPERATIONS TO COMBINED | |||||||
FIXED CHARGES AND PREFERRED DIVIDENDS | 2.22 | 2.63 |
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10-Q Filing
Weingarten Realty Investors (WRI) 10-Q2007 Q1 Quarterly report
Filed: 10 May 07, 12:00am