EX-12.1 8 a2069476zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 PRICE LEGACY CORPORATION COMPUTATION OF RATIOS
Nine Months Ended September 30, Year Ended December 31, 2001 2000 1999 1998 ---- ---- ---- ---- EARNINGS: Net income ................................ $ 29,467 $ 34,292 $ 32,671 $ 29,429 Add: fixed charges ........................ 12,166 13,018 7,049 3,112 Less: capitalized interest ................ (1,224) (2,087) (1,175) (301) -------- -------- -------- -------- Income as adjusted ........................ $ 40,409 $ 45,223 $ 38,545 $ 32,240 ======== ======== ======== ======== FIXED CHARGES: Interest costs ............................ $ 10,942 $ 10,931 $ 5,874 $ 2,811 Capitalized interest ...................... 1,224 2,087 1,175 301 -------- -------- -------- -------- Total fixed charges ....................... 12,166 13,018 7,049 3,112 Preferred stock dividends ................. 25,505 33,360 33,263 8,316 -------- -------- -------- Total fixed charges and preferred dividends $ 37,671 $ 46,378 $ 40,312 $ 11,428 ======== ======== ======== ======== Ratio of earnings to fixed charges ........ 3.32x 3.47x 5.47x 10.36x ======== ======== ======== ======== Ratio of earnings to combined fixed charges and preferred stock dividends ............. 1.07x 0.98x 0.96x 2.82x ======== ======== ======== ========
Price Legacy did not have any fixed charges or preferred stock dividends for the periods prior to the year ended December 31, 1998.