EX-12.1 2 skt10q6302012ex121.htm TFOC RATIO EARNINGS TO FIXED CHARGES SKT 10Q 6.30.2012 Ex 12.1


Exhibit 12.1

TANGER FACTORY OUTLET CENTERS, INC.
RATIO OF EARNINGS TO FIXED CHARGES

 
 
Six months ended
 
 
June 30,
 
 
2012
 
2011
Earnings:
 
 
 
 
Income before equity in losses of unconsolidated joint ventures and noncontrolling interests
 
$
23,611

 
$
22,455

Add:
 
 
 
 
Distributed income of unconsolidated joint ventures
 
466

 
156

Amortization of capitalized interest
 
255

 
253

Interest expense
 
23,372

 
21,038

Portion of rent expense - interest factor
 
1,032

 
906

Total earnings
 
48,736

 
44,808

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest expense
 
23,372

 
21,038

Capitalized interest and capitalized amortization of debt issue costs
 
514

 
249

Portion of rent expense - interest factor
 
1,032

 
906

Total fixed charges
 
$
24,918

 
$
22,193

 
 
 
 
 
Ratio of earnings to fixed charges
 
2.0

 
2.0