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Exhibit 12.2
CENTERPOINT PROPERTIES TRUST
COMPUTATION OF RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
(dollars in thousands)
| | Years Ended December 31, | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||
| Available earnings: | ||||||||||||||||||
| Income from continuing operations before income taxes, equity in net income of affiliate plus gains on sale of real estate | $ | 9,446 | $ | 23,999 | $ | 32,023 | $ | 9,972 | $ | 43,631 | ||||||||
| Plus: | ||||||||||||||||||
| Interest expense | 33,032 | 25,735 | 27,456 | 32,299 | 32,915 | |||||||||||||
| Amortization of deferred financing costs | 3,567 | 3,354 | 2,918 | 2,376 | 2,155 | |||||||||||||
| Distributed share of equity from affiliates | 5,703 | 2,281 | 1,994 | 3,309 | (294 | ) | ||||||||||||
| Available earnings | $ | 51,748 | $ | 55,369 | $ | 64,391 | $ | 47,956 | $ | 78,407 | ||||||||
| Combined fixed charges and preferred dividends: | ||||||||||||||||||
| Interest expense, including discontinued operations | $ | 33,032 | $ | 27,596 | $ | 30,452 | $ | 32,299 | $ | 32,915 | ||||||||
| Amortization of deferred financing costs | 3,567 | 3,354 | 2,918 | 2,376 | 2,155 | |||||||||||||
| Preferred dividends | 2,621 | 9,599 | 10,090 | 10,090 | 10,105 | |||||||||||||
| Interest capitalized | 6,586 | 8,569 | 8,444 | 7,154 | 3,404 | |||||||||||||
| Combined fixed charges and preferred dividends | $ | 45,806 | $ | 49,118 | $ | 51,904 | $ | 51,919 | $ | 48,579 | ||||||||
| Ratio of earnings to combined fixed charges and preferred dividends | 1.1 | 1.1 | 1.2 | 0.9 | 1.6 | |||||||||||||
CENTERPOINT PROPERTIES TRUST COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS (dollars in thousands)