EXHIBIT 12.1
SIMON PROPERTY GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(in thousands)
SIMON DEBARTOLO
SIMON PROPERTY GROUP, INC. GROUP, INC.
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FOR THE YEAR ENDED DECEMBER 31,
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2000 PRO FORMA 2000 1999 1998 1997 1996
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Earnings:
Income before extraordinary items $ 402,011 $ 402,011 $ 358,859 $ 271,634 $ 220,434 $ 134,663
Add:
Minority interest in income of
majority owned subsidiaries 10,725 10,725 10,719 7,335 5,270 4,300
Distributed income from unconsolidated entities 45,948 45,948 30,169 29,903 15,619 5,538
Amortization of capitalized interest 1,323 1,323 724 380 0 0
Fixed Charges 747,029 776,364 692,384 500,009 322,685 210,913
Less:
Income from unconsolidated entities (53,476) (53,476) (44,926) (22,293) (8,690) (4,060)
Interest capitalization (18,638) (18,638) (23,759) (13,792) (11,932) (5,831)
Preferred distributions of consolidated subsidiaries (11,267) (40,602) (32,252) (7,816) 0 0
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Earnings $1,123,655 $ 1,123,655 $ 991,918 $ 765,360 $ 543,386 $ 345,523
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Fixed Charges:
Portion of rents representative of the interest factor 5,078 5,078 4,913 4,831 3,732 2,900
Interest on indebtedness
(including amortization of debt expense) 712,046 712,046 631,460 473,570 307,021 202,182
Interest capitalized 18,638 18,638 23,759 13,792 11,932 5,831
Preferred distributions of consolidated subsidiaries 11,267 40,602 32,252 7,816 0 0
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Fixed Charges $ 747,029 $ 776,364 $ 692,384 $ 500,009 $ 322,685 $ 210,913
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Preferred Stock Dividends 66,143 36,808 37,071 33,655 29,248 12,694
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Fixed Charges and Preferred Stock Dividends $ 813,172 $ 813,172 $ 729,455 $ 533,664 $ 351,933 $ 223,607
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Ratio of Earnings to Fixed Charges and
Preferred Stock Dividends 1.38 1.38 1.36 1.43 1.54 1.55
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