Exhibit 99.1
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
For the quarter ended June 30, 2009
| | |
Pretax loss from continuing operations before adjustment for | | |
noncontrolling interests or income loss from equity investees (1) | $ | (100,193,636) |
| | |
| | |
Add: | | |
Interest on indebtedness (excluding capitalized interest) | | 97,467,045 |
Amortization of debt related expenses | | 3,760,623 |
Portion of rents representative of the | | |
interest factor | | 3,783,998 |
| | 4,818,030 |
| | |
Distributed income from equity investees | | 55,959,718 |
| | |
Pretax earnings from continuing operations, as adjusted | $ | 60,777,748 |
| | |
| | |
Fixed charges - | | |
Interest on indebtedness (including capitalized interest) | $ | 109,044,444 |
Amortization of debt related expenses | | 1,996,207 |
Portion of rents representative of the | | |
interest factor | | 3,783,998 |
| | |
Fixed charges | $ | 114,824,649 |
| | |
Ratio of earnings to fixed charges | | 0.5 |
(1)
Pretax loss from continuing operations before adjustment for noncontrolling interests or income loss from equity investees includes impairment charges of approximately $176.5 million that are discussed in our Quarterly Report on Form 10-Q for the period ended June 30, 2009. Due to these impairment charges, our fixed charges exceed our pretax earnings from continuing operations, as adjusted by approximately $54.0 million.
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
For the quarter ended June 30, 2009
| | |
Pretax loss from continuing operations before adjustment for | | |
noncontrolling interests or income loss from equity investees | $ | (100,193,636) |
| | |
| | |
Add: | | |
Interest on indebtedness (excluding capitalized interest) | | 97,467,045 |
Amortization of debt related expenses | | 3,760,623 |
Portion of rents representative of the | | |
interest factor | | 3,783,998 |
| | 4,818,030 |
| | |
Distributed income from equity investees | | 55,959,718 |
| | |
Pretax earnings from continuing operations, as adjusted | $ | 60,777,748 |
| | |
| | |
Combined fixed charges and preferred stock dividends - | | |
Interest on indebtedness (including capitalized interest) | $ | 109,044,444 |
Preferred dividend factor | | 23,922,233 |
Amortization of debt related expenses | | 1,996,207 |
Portion of rents representative of the | | |
interest factor | | 3,783,998 |
| | |
Combined fixed charges and preferred stock dividends | $ | 138,746,882 |
| | |
Ratio of Earnings to Combined Fixed Charges | | |
and Preferred Stock Dividends | | 0.4 |
(1)
Pretax loss from continuing operations before adjustment for noncontrolling interests or income loss from equity investees includes impairment charges of approximately $176.5 million that are discussed in our Quarterly Report on Form 10-Q for the period ended June 30, 2009. Due to these impairment charges, our combined fixed charges and preferred stock dividends exceed our pretax earnings from continuing operations, as adjusted by approximately $78.0 million.
