EX-12.2
Published on May 7, 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)
| Three Months | ||||||||||||||||||||||||
| Ended March 31, | 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 |
$ | 24,095 | $ | 125,568 | $ | 97,503 | $ | 80,535 | $ | 68,188 | 53,732 | |||||||||||||
Fixed charges before preferred distributions |
17,708 | 72,658 | 61,376 | 49,092 | 44,203 | 41,678 | ||||||||||||||||||
Distributions from equity investments |
243 | 2,262 | 1,239 | 874 | 855 | 811 | ||||||||||||||||||
Capitalized interest |
(226 | ) | (797 | ) | (494 | ) | (100 | ) | (160 | ) | (688 | ) | ||||||||||||
Adjusted Earnings |
$ | 41,820 | $ | 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) |
$ | 17,437 | $ | 70,951 | $ | 60,505 | $ | 48,866 | $ | 43,749 | 40,011 | |||||||||||||
Interest income |
45 | 910 | 377 | 126 | 294 | 979 | ||||||||||||||||||
Capitalized interest |
226 | 797 | 494 | 100 | 160 | 688 | ||||||||||||||||||
Preferred distributions |
7,552 | 28,266 | 21,312 | 11,857 | 11,353 | 6,213 | ||||||||||||||||||
Combined Fixed Charges and Preferred
Distributions |
$ | 25,260 | $ | 100,924 | $ | 82,688 | $ | 60,949 | $ | 55,556 | 47,891 | |||||||||||||
Ratio of Earnings to Combined Fixed Charges
and Preferred Distributions |
1.7 | x | 2.0 | x | 1.9 | x | 2.1 | x | 2.0 | x | 2.0 | x | ||||||||||||