COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Published on February 28, 2007
EXHIBIT 12.1
ENTERTAINMENT PROPERTIES TRUST
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Year Ended December 31, | ||||||||||||||||||||
| 2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Income before gain on sale of land,
income
from joint ventures and minority
interests |
$ | 81,185 | $ | 68,366 | $ | 54,012 | $ | 38,748 | $ | 30,731 | ||||||||||
Fixed charges |
49,092 | 44,203 | 41,678 | 32,293 | 26,141 | |||||||||||||||
Distributions from equity investments |
874 | 855 | 811 | 486 | 1,738 | |||||||||||||||
Capitalized interest |
(100 | ) | (160 | ) | (688 | ) | (832 | ) | (961 | ) | ||||||||||
Adjusted Earnings |
$ | 131,051 | $ | 113,264 | $ | 95,813 | $ | 70,695 | $ | 57,649 | ||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expense, net (including
amortization
of deferred financing fees) |
$ | 47,438 | $ | 42,427 | $ | 38,054 | $ | 30,570 | $ | 24,475 | ||||||||||
Interest income |
1,554 | 1,616 | 2,936 | 891 | 705 | |||||||||||||||
Capitalized interest |
100 | 160 | 688 | 832 | 961 | |||||||||||||||
Total Fixed Charges |
$ | 49,092 | $ | 44,203 | $ | 41,678 | $ | 32,293 | $ | 26,141 | ||||||||||
Ratio of Earnings to Fixed Charges |
2.7x | 2.6x | 2.3x | 2.2x | 2.2x | |||||||||||||||