EX-12.1 5 a2074075zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 Price Legacy Corporation Computation of Ratios (in thousands, except ratios)
Period from Period from November 12 January 1 Year Ended Year Ended through through December 31 December 31 December 31 November 11 --------------- --------------- -------------- --------------- 2001 2000 1999 1999 --------------- --------------- -------------- --------------- EARNINGS Income from continuing operations before income taxes $38,001 $34,292 $4,697 $27,974 Add: fixed charges 18,379 13,018 1,079 5,971 Less: capitalized interest (1,586) (2,087) (231) (944) --------------- --------------- -------------- --------------- Income as adjusted $54,794 $45,223 $5,545 $33,001 =============== =============== ============== =============== FIXED CHARGES AND PREFERRED DIVIDENDS: Fixed charges: Interest costs $16,793 $10,931 $ 848 $ 5,027 Capitalized interest 1,586 2,087 231 944 --------------- --------------- -------------- --------------- Total fixed charges 18,379 13,018 1,079 5,971 Preferred stock dividends 37,442 33,360 -- 33,263 --------------- --------------- -------------- --------------- Total fixed charges and preferred dividends $55,821 $46,378 $1,079 $39,234 =============== =============== ============== =============== Ratio of earnings to fixed charges 2.98 3.47 5.14 5.53 =============== =============== ============== =============== Ratio of earnings to combined fixed charges and preferred stock dividends 0.98 0.98 5.14 0.84 =============== =============== ============== ===============