EX-12.1 2 d84976ex12-1.txt STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12.1 PROLOGIS COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLAR AMOUNTS IN THOUSANDS)
YEAR ENDED DECEMBER 31, -------------------------------------------------------------- 2000 1999 1998 1997 1996 ---------- ---------- ---------- ---------- ---------- Net Earnings from Operations $ 236,221 $ 161,570 $ 102,936 $ 38,832 $ 79,384 Add: Interest Expense 172,191 170,746 77,650 52,704 38,819 ---------- ---------- ---------- ---------- ---------- Earnings as Adjusted $ 408,412 $ 332,316 $ 180,586 $ 91,536 $ 118,203 ========== ========== ========== ========== ========== Fixed Charges: Interest Expense $ 172,191 $ 170,746 $ 77,650 $ 52,704 $ 38,819 Capitalized Interest 18,549 15,980 19,173 18,365 16,138 ---------- ---------- ---------- ---------- ---------- Total Fixed Charges $ 190,740 $ 186,726 $ 96,823 $ 71,069 $ 54,957 ========== ========== ========== ========== ========== Ratio of Earnings, as Adjusted to Fixed Charges 2.1 1.8 1.9 1.3 2.2 ========== ========== ========== ========== ==========