EX-12 13 ex12.txt RATIO OF EARNINGS TO FIXED CHARGES 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)
------------------------------------------------------------------------------------------------------------------------------------ Year Ended December 31 2001 2000 ------------------------------------------------------------------------------------------------------------------------------------ Loss before minority interests $ (98,456) $ (138,246) Loss on sale of real estate 1,063 42,648 Interest incurred 88,926 102,664 Provision for asset impairment 63,026 68,663 Amortization of debt issuance costs 6,984 3,253 Amortization of interest rate protection contracts 41 68 Less capitalized interest - (3,412) --------- ---------- Earnings 61,584 74,900 --------- ---------- Interest incurred 88,926 102,664 Amortization of debt issuance costs 6,984 3,253 Amortization of interest rate protection contracts 41 68 Preferred stock distributions and dividends 22,672 22,672 --------- ---------- Combined Fixed Charges and Preferred Stock Distributions and Dividends 118,623 127,477 --------- ---------- Excess of Combined Fixed Charges and Preferred Stock Distributions and Dividends over Earnings $ (57,039) $ (53,019) ========= ========== ====================================================================================================================================