RPT Realty (KIM+N) 10-Q 2014 Q1 Quarterly report

Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
		Three Months Ended March 31,
		2014		2013
		(In thousands, except ratio computation)
Pretax gain from continuing operations before adjustment for noncontrolling interest		$2,761		$4,827
Add back:
	Fixed charges	8,436		6,810
	Distributed income of equity investees	783		2,723
	Equity in loss of equity investees	1,607		5,674
Deduct:
	Capitalized interest	(381	)	(325	)
Earnings as Defined		$13,206		$19,709
Fixed Charges
	Interest expense including amortization of deferred financing fees	$8,002		$6,414
	Capitalized interest	381		325
	Interest portion of rent expense	53		71
Fixed Charges		8,436		6,810
	Preferred share dividends	1,812		1,812
Combined Fixed Charges and Preferred Dividends		$10,248		$8,622
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends		1.29		2.29