EX-12.2
Published on February 24, 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)
| Year Ended December 31, | ||||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Income before gain on sale of land,
income
from joint ventures and minority
interests |
$ | 125,568 | $ | 97,503 | $ | 80,535 | $ | 68,188 | $ | 53,732 | ||||||||||
Fixed charges before preferred
distributions |
72,658 | 61,376 | 49,092 | 44,203 | 41,678 | |||||||||||||||
Distributions from equity investments |
2,262 | 1,239 | 874 | 855 | 811 | |||||||||||||||
Capitalized interest |
(797 | ) | (494 | ) | (100 | ) | (160 | ) | (688 | ) | ||||||||||
Adjusted Earnings |
$ | 199,691 | $ | 159,624 | $ | 130,401 | $ | 113,086 | $ | 95,533 | ||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expense, net (including
amortization
of deferred financing fees) |
$ | 70,951 | $ | 60,505 | $ | 48,866 | $ | 43,749 | $ | 40,011 | ||||||||||
Interest income |
910 | 377 | 126 | 294 | 979 | |||||||||||||||
Capitalized interest |
797 | 494 | 100 | 160 | 688 | |||||||||||||||
Preferred distributions |
28,266 | 21,312 | 11,857 | 11,353 | 6,213 | |||||||||||||||
Combined Fixed Charges and Preferred
Distributions |
$ | 100,924 | $ | 82,688 | $ | 60,949 | $ | 55,556 | $ | 47,891 | ||||||||||
Ratio of Earnings to Combined Fixed
Charges
and Preferred Distributions |
2.0x | 1.9x | 2.1x | 2.0x | 2.0x | |||||||||||||||