EX-12.1 8 y91913exv12w1.txt COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS . . . EXHIBIT 12 ALEXANDER'S, INC. CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30, Year Ended December 31, --------------------- ----------------------------------------------------------- 2003 2002 2002 2001 2000 1999 1998 -------- -------- -------- -------- -------- -------- -------- Pretax income from continuing operations before fixed charges $(13,152) $ 8,594 $ 12,402 $ 26,440 $ 4,425 $ 4,743 $ (6,786) Fixed charges(1) 9,023 18,569 23,027 22,608 21,563 17,786 16,666 -------- -------- -------- -------- -------- -------- -------- Earnings $ (4,129) $ 27,163 $ 35,429 $ 49,048 $ 25,988 $ 22,529 $ 9,880 ======== ======== ======== ======== ======== ======== ======== Fixed charges(2): Interest and debt expense $ 8,933 $ 18,479 $ 22,888 $ 22,469 $ 21,424 $ 17,647 $ 16,541 1/3 of rent expense - interest factor(3) 90 90 139 139 139 139 125 -------- -------- -------- -------- -------- -------- -------- 9,023 18,569 23,027 22,608 21,563 17,786 16,666 Capitalized interest 28,607 16,025 23,788 19,259 16,731 9,352 7,864 -------- -------- -------- -------- -------- -------- -------- $ 37,630 $ 34,594 $ 46,815 $ 41,867 $ 38,294 $ 27,138 $ 24,530 ======== ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges -- -- -- 1.17 -- -- -- Deficiency in earnings available to cover fixed charges $(41,759) $ (7,431) $(11,386) $ -- $(12,306) $ (4,609) $(14,650) ======== ======== ======== ======== ======== ======== ========
Notes: (1) For purposes of the calculation of the numerator, fixed charges does not include capitalized interest. (2) There are no preference securities outstanding during the periods shown. (3) This is the portion of operating lease rental expense deemed to represent the interest factor.