Exhibit 12.01
FEDERAL REALTY INVESTMENT TRUST
Computation of Ratios of Earnings to Fixed Charges and
Of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
(in thousands)
9/30 9/30
2002 2001 2001 2000 1999 1998 1997
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Income before gain on sale of real estate $ 43,054 $ 43,684 $ 59,571 $ 56,842 $ 55,493 $ 44,960 $ 40,129
Add:
Portion of rents representing interest 1,117 1,089 2,037 1,969 1,619 986 948
Interest on indebtedness, including
amortization of debt costs 45,313 52,360 69,313 66,418 61,492 55,125 47,288
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Income as adjusted 89,484 97,133 130,921 125,229 118,604 101,071 88,365
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Fixed Charges:
Portion of rents representing interest $ 1,117 $ 1,089 $ 2,037 $ 1,969 $ 1,619 $ 986 $ 948
Interest on indebtedness, including
Amortization of debt costs 45,313 52,360 69,313 66,418 61,492 55,125 47,288
Capitalized Interest 19,412 12,747 17,803 13,249 6,867 5,078 3,649
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Fixed charges 65,842 66,196 89,153 81,636 69,978 61,189 51,885
Preferred dividend 14,568 5,963 9,034 7,950 7,950 7,950 1,877
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Combined fixed charges and
Preferred dividends 80,410 72,159 98,187 89,586 77,928 69,139 53,762
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Ratio of earnings to fixed charges 1.4 1.5 1.5x 1.5x 1.7x 1.7x 1.7x
Ratio of earnings to combined fixed charges
and preferred dividend 1.1 1.4 1.3x 1.4x 1.5x 1.5x 1.6x