EX-12.1 5 dex121.txt COMPUTATION OF RATIOS OF EARNINGS Exhibit 12.1 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)
2001 2000 1999 1998 1997 ------------ ------------- ------------- ------------- ------------- Income before gain on sale of real estate $ 59,571 $ 56,842 $ 55,493 $ 44,960 $ 40,129 Add: Portion of rents representing interest 2,037 1,969 1,619 986 948 Interest on indebtedness, including amortization of debt costs 69,313 66,418 61,492 55,125 47,288 ------------ ------------- ------------- ------------- ------------- Income as adjusted 130,921 125,229 118,604 101,071 88,365 ============ ============= ============= ============= ============= Fixed Charges: Portion of rents representing interest $ 2,037 $ 1,969 $ 1,619 $ 986 $ 948 Interest on indebtedness, including Amortization of debt costs 69,313 66,418 61,492 55,125 47,288 Capitalized Interest 17,803 13,249 6,867 5,078 3,649 ------------ ------------- ------------- ------------- ------------- Fixed charges 89,153 81,636 69,978 61,189 51,885 Preferred dividend 9,034 7,950 7,950 7,950 1,877 ------------ ------------- ------------- ------------- ------------- Combined fixed charges and Preferred dividends 98,187 89,586 77,928 69,139 53,762 ============ ============= ============= ============= ============= Ratio of earnings to fixed charges 1.5x 1.5x 1.7x 1.7x 1.7x Ratio of earnings to combined fixed charges and preferred dividend 1.3x 1.4x 1.5x 1.5x 1.6x