EX-12.1 8 dex121.txt EXHIBIT 12.01 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 ----------- ----------- ----------- ----------- ----------- ---------- --------- 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 -------- --------- -------- --------- ---------- ---------- --------- Income as adjusted 89,484 97,133 130,921 125,229 118,604 101,071 88,365 ======== ========= ======== ========= ========== ========== ========= 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 -------- --------- -------- --------- ---------- ---------- --------- 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 -------- --------- -------- --------- ---------- ---------- --------- Combined fixed charges and Preferred dividends 80,410 72,159 98,187 89,586 77,928 69,139 53,762 ======== ========= ======== ========= ========== ========== ========= 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