WEINGARTEN REALTY INVESTORS | ||||||||||||||||||||
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES | ||||||||||||||||||||
AND PREFERRED DIVIDENDS | ||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Income from continuing operations | $ | 91,085 | $ | 72,258 | $ | 132,412 | $ | 107,228 | $ | 96,306 | ||||||||||
Equity in earnings of real estate joint ventures and partnerships, net | (5,548 | ) | (12,196 | ) | (19,853 | ) | (14,655 | ) | (6,610 | ) | ||||||||||
Provision (benefit) for income taxes | 6,338 | (10,219 | ) | 4,073 | 1,366 | |||||||||||||||
Gain on sale of property | 25,266 | 1,998 | 4,086 | 22,493 | 22,306 | |||||||||||||||
Fixed charges | 199,078 | 212,651 | 207,765 | 166,831 | 142,256 | |||||||||||||||
Amortization of capitalized interest | 2,221 | 2,307 | 2,084 | 2,234 | 2,366 | |||||||||||||||
Distributions of income from real estate joint ventures and partnerships | 2,841 | 3,602 | 6,251 | 2,524 | 2,603 | |||||||||||||||
Capitalized interest | (8,716 | ) | (20,290 | ) | (25,025 | ) | (7,616 | ) | (2,629 | ) | ||||||||||
Preferred dividends | (35,476 | ) | (34,711 | ) | (25,375 | ) | (10,101 | ) | (10,101 | ) | ||||||||||
Net income as adjusted | $ | 277,089 | $ | 215,400 | $ | 286,418 | $ | 270,304 | $ | 246,497 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest on indebtedness, net | $ | 153,207 | $ | 156,318 | $ | 156,248 | $ | 148,052 | $ | 128,565 | ||||||||||
Capitalized interest | 8,716 | 20,290 | 25,025 | 7,616 | 2,629 | |||||||||||||||
Preferred dividends | 35,476 | 34,711 | 25,375 | 10,101 | 10,101 | |||||||||||||||
Portion of rents representative of the interest factor | 1,679 | 1,332 | 1,117 | 1,062 | 961 | |||||||||||||||
Fixed charges | $ | 199,078 | $ | 212,651 | $ | 207,765 | $ | 166,831 | $ | 142,256 | ||||||||||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS | $ | 1.39 | $ | 1.01 | $ | 1.38 | $ | 1.62 | $ | 1.73 | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | $ | 1.69 | $ | 1.21 | $ | 1.57 | $ | 1.72 | $ | 1.87 | ||||||||||
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10-K Filing
Weingarten Realty Investors (WRI) 10-K2009 FY Annual report
Filed: 1 Mar 10, 12:00am