EX-12.1 2 ex12-1.htm EXHIBIT 12.1 ex12-1.htm

Exhibit 12.1

 

Kimco Realty Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

For the nine months ended September 30, 2016

(in thousands, except for ratio)

 

Pretax earnings from continuing operations before adjustment for noncontrolling interests or income loss from equity investees (1) (2)

   $ 260,485  
         
         

Add:

        

Interest on indebtedness (excluding capitalized interest)

     151,380  

Amortization of debt premiums, discounts and capitalized expenses

     9,764  

Amortization of capitalized interest

     3,667  

Portion of rents representative of the interest factor

     5,488  
      430,784  
         

Distributed income from equity investees

     70,043  
         

Pretax earnings from continuing operations, as adjusted

   $ 500,827  
         
         

Fixed charges -

        

Interest on indebtedness (excluding capitalized interest)

   $ 151,380  

Capitalized interest

     6,783  

Amortization of debt premiums, discounts and capitalized expenses

     9,764  

Portion of rents representative of the interest factor

     5,488  
         

Fixed charges

   $ 173,415  
         

Ratio of earnings to fixed charges

     2.9  

 

(1) Includes an aggregate gain on liquidation of real estate joint venture interests of $135.6 million.

(2) Includes early extinguishment of debt charges of $45.7 million.