EX-12 2 exh12.txt PRIME RETAIL, INC. MARCH 31, 2001 EXHIBIT 12 PRIME RETAIL, INC. EXHIBIT 12: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DISTRIBUTIONS AND DIVIDENDS (Amounts in thousands, except for ratio information)
------------------------------------------------------------------------------------------------------------------------------------ Three Months ended March 31, 2001 2000 ------------------------------------------------------------------------------------------------------------------------------------ Loss before minority interests $ (5,631) $ (11,687) Gain on sale of real estate (732) - Interest incurred 23,240 25,056 Amortization of debt issuance costs 1,979 824 Amortization of interest rate protection contracts 35 21 Less capitalized interest - (1,100) --------- --------- Earnings 18,891 13,114 Interest incurred 23,240 25,056 Amortization of debt issuance costs 1,979 824 Amortization of interest rate protection contracts 35 21 Preferred stock distributions and dividends 5,668 5,668 --------- --------- Combined Fixed Charges and Preferred Stock Distributions and Dividends 30,922 31,569 --------- --------- Excess of Combined Fixed Charges and Preferred Stock Distributions and Dividends over Earnings $ (12,031) $ (18,455) ========= ========= ====================================================================================================================================