EX-12.1 3 a2041883zex-12_1.txt EX-12.1 EXHIBIT 12.1 PRICE ENTERPRISES, INC. COMPUTATION OF RATIOS (in thousands, except ratios)
PERIOD FROM PERIOD FROM NOVEMBER 12 JANUARY 1 YEAR ENDED THROUGH THROUGH YEAR ENDED DECEMBER 31 DECEMBER 31 NOVEMBER 11 DECEMBER 31 2000 1999 1999 1998 ----------- ----------- ----------- ----------- EARNINGS Income from continuing operations before income taxes $34,292 $4,697 $27,974 $29,429 Add: fixed charges 13,018 1,079 5,971 3,112 Less: capitalized interest (2,087) (231) (944) (301) ------- ------ ------- ------- Income as adjusted $45,223 $5,545 $33,001 $32,240 ======= ====== ======= ======= FIXED CHARGES AND PREFERRED DIVIDENDS: Fixed charges: Interest costs $10,931 $ 848 $ 5,027 $ 2,811 Capitalized interest 2,087 231 944 301 ------- ------ ------- ------- Total fixed charges 13,018 1,079 5,971 3,112 Preferred stock dividends 33,360 --- 33,263 8,316 ------- ------ ------- ------- Total fixed charges and preferred dividends $46,378 $1,079 $39,234 $11,428 ======= ====== ======= ======= Ratio of earnings to fixed charges 3.47 5.14 5.53 10.36 ======= ====== ======= ======= Ratio of earnings to combined fixed charges and preferred stock dividends 0.98 5.14 0.84 2.82 ======= ====== ======= =======
For periods prior to the one ending December 31, 1998, this calculation is not applicable for our Company