Life Storage Inc - Registered Shares (LSI) 10-K2008 FY Annual report

Filed: 27 Feb 09, 12:00am

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Exhibit 12.1

Statement Re: Computation of Earnings to
Combined Fixed Charges and Preferred Stock Dividends

Amounts in thousands


	Year ended December 31,
	2008		2007			2006			2005			2004
Earnings:
Income from continuing operations before minority interest in consolidated subsidiaries and income or loss from equity investees	$	38,785	$	41,292		$	38,425		$	35,645		$	31,567
Fixed charges		38,097		35,117			32,006			24,352			25,296
Preferred dividend requirements of consolidated subsidiaries		—		(1,256	)		(2,512	)		(4,123	)		(7,168	)

Earnings (1)		76,882		75,153			67,919			55,874			49,695

Fixed charges:
Interest expense		36,905		32,898			28,501			19,439			17,408
Amortization of financing fees		1,192		963			993			790			720
Preferred stock dividends		—		1,256			2,512			4,123			7,168

Fixed charges (2)	$	38,097	$	35,117		$	32,006		$	24,352		$	25,296

Ratio of earnings to combined fixed charges and preferred stock dividends (1)/(2)		2.02		2.14			2.12			2.29			1.96