EX-12.1 4 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 year ended December 31, 2016

(in thousands, except for ratio)

 

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

   $ 305,361  
         
         

Add:

        

Interest on indebtedness (excluding capitalized interest)

     190,636  

Amortization of debt premiums, discounts and capitalized expenses

     11,837  

Amortization of capitalized interest

     4,922  

Portion of rents representative of the interest factor

     7,076  
      519,832  
         

Distributed income from equity investees

     90,589  
         

Pretax earnings from continuing operations, as adjusted

   $ 610,421  
         
         

Fixed charges -

        

Interest on indebtedness (excluding capitalized interest)

   $ 190,636  

Capitalized interest

     9,247  

Amortization of debt premiums, discounts and capitalized expenses

     11,837  

Portion of rents representative of the interest factor

     7,076  
         

Fixed charges

   $ 218,796  
         

Ratio of earnings to fixed charges

     2.8  

 

(1) Includes an aggregate gain on liquidation of real estate joint venture interests of $138.5 million.

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

 

 

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