EX-99.1 3 dex991.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 99.1 STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES -------------------------------------------------------------------------------- (Dollar amounts in thousands)
Quarter Ended March 31, 2001 2000 ---------------- ---------------- Income before net gain on sales of investments in rental properties and minority interest $19,849 $21,689 Provision for nonrecurring charges 4,308 - Less -- minority interest not convertible into common stock (164) (66) ---------------- ---------------- Earnings $23,993 $21,623 ================ ================ Fixed charges: Interest $12,031 $11,635 Capitalized interest 3,506 2,938 Preferred stock dividends 1,142 1,142 Other 38 12 ---------------- ---------------- Fixed Charges $16,717 $15,727 ================ ================ Earnings plus fixed charges, excluding capitalized interest and preferred stock dividends $36,062 $33,270 ================ ================ Divided by fixed charges $16,717 $15,727 ================ ================ Ratio of earnings to fixed charges 2.2 2.1 ================ ================