EX-12 3 exh12.txt 2ND QUARTER EARNINGS ENDED JUNE 30, 2001 - EXH 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) -------------------------------------------------------------------------------- Six Months Ended June 30 2001 2000 -------------------------------------------------------------------------------- Loss before minority interests $ (12,874) $ (27,446) Gain on sale of real estate (552) - Interest incurred 45,756 49,801 Amortization of debt issuance costs 3,659 1,743 Less capitalized interest - (2,359) --------- --------- Earnings 35,989 21,739 --------- --------- Interest incurred 45,756 49,801 Amortization of debt issuance costs 3,659 1,743 Preferred stock distributions and dividends 11,336 11,336 --------- --------- Combined Fixed Charges and Preferred Stock Distributions and Dividends 60,751 62,880 --------- --------- Excess of Combined Fixed Charges and Preferred Stock Distributions and Dividends over Earnings $ (24,762) $ (41,141) ========= ========= ================================================================================