EX-12.2
Published on July 28, 2009
EXHIBIT 12.2
ENTERTAINMENT PROPERTIES TRUST
COMPUTATION OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
(dollars in thousands)
COMPUTATION OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
(dollars in thousands)
| Six Months | ||||||||||||||||||||||||
| Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Earnings: |
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Income before gain on sale of land, equity
in income from joint ventures,
noncontrolling
interests and discontinued operations |
$ | 50,090 | $ | 125,568 | $ | 97,503 | $ | 80,535 | $ | 68,188 | 53,732 | |||||||||||||
Fixed charges before preferred
distributions |
35,405 | 72,658 | 61,376 | 49,092 | 44,203 | 41,678 | ||||||||||||||||||
Distributions from equity investments |
493 | 2,262 | 1,239 | 874 | 855 | 811 | ||||||||||||||||||
Capitalized interest |
(434 | ) | (797 | ) | (494 | ) | (100 | ) | (160 | ) | (688 | ) | ||||||||||||
Adjusted Earnings |
$ | 85,554 | $ | 199,691 | $ | 159,624 | $ | 130,401 | $ | 113,086 | 95,533 | |||||||||||||
Fixed Charges: |
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Interest expense, net (including
amortization
of deferred financing fees) |
$ | 34,919 | $ | 70,951 | $ | 60,505 | $ | 48,866 | $ | 43,749 | 40,011 | |||||||||||||
Interest income |
52 | 910 | 377 | 126 | 294 | 979 | ||||||||||||||||||
Capitalized interest |
434 | 797 | 494 | 100 | 160 | 688 | ||||||||||||||||||
Preferred distributions |
15,103 | 28,266 | 21,312 | 11,857 | 11,353 | 6,213 | ||||||||||||||||||
Combined Fixed Charges and Preferred
Distributions |
$ | 50,508 | $ | 100,924 | $ | 82,688 | $ | 60,949 | $ | 55,556 | 47,891 | |||||||||||||
Ratio of Earnings to Combined Fixed Charges
and Preferred Distributions |
1.7x | 2.0x | 1.9x | 2.1x | 2.0x | 2.0x | ||||||||||||||||||