EXHIBIT 12.1
U.S. Restaurant Properties, Inc.
Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(in thousands)
Years ended December 31,
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2000 1999
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Net Income (45) 790
Fixed Charges:
Interest Expense 30,706 29,410
Capitalized Interest 739 1,346
Preferred Dividend Requirements 7,102 7,102
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Total Fixed Charges and Preferred Stock
Dividends 38,547 37,858
Less Preferred Stock Dividend Requirements 7,102 7,102
Earnings $31,400 $31,546
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Ratio of Earnings to Fixed Charges 1.00x 1.03x
Ratio of Earnings to Combined
Fixed Charges and Preferred
Stock Dividends 0.81x 0.83x
During the years ended December 31, 2000 and 1999 the Company recorded non-cash
credits of $3,713 and $239, respectively, relating to the contingent OP units
accrued according to the 1997 termination of management contract.