Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges and
Preferred Dividend Requirements
Three Months Year Ended December 31,
Ended --------------------------------------------------------
March 31, 1996 1995 1994 1993 1992
-------------- ----------- ----------- ----------- -----------
Income before extraordinary items $15,927,735 $51,921,799 $41,071,338 $35,159,112 $18,964,005
Add
Portion of rents representative of the
interest factor 841,220 1,451,048 104,918 167,263 282,690
Interest and related debt expenses 6,901,675 27,375,415 22,032,025 18,998,491 20,239,772
----------- ----------- ----------- ----------- -----------
23,670,630 80,748,262 63,208,281 54,324,866 39,486,467
Adjustment for equity share in partnerships 52,900 504,238 652,725 (2,067,263) 391,306
----------- ----------- ----------- ----------- -----------
Income before extraordinary items, as adjusted $23,723,530 $81,252,500 $63,861,006 $52,257,603 $39,877,773
=========== =========== =========== =========== ===========
Combined Fixed Charges and Preferred Stock
Dividend Requirements-
Interest and related debt expenses $6,901,675 $27,221,385 $21,877,995 $18,998,491 $20,239,772
Portion of rents representative of the
interest factor 841,220 1,451,048 104,918 167,263 282,690
Preferred stock dividend requirements 2,515,625 7,630,556 5,812,500 1,582,125 0
----------- ----------- ----------- ----------- -----------
Combined Fixed Charges and Preferred Stock
Dividend Requirements $10,258,520 $36,302,989 $27,795,413 $20,747,879 $20,522,462
=========== =========== =========== =========== ===========
Ratio of Earnings to Combined Fixed Charges and
Preferred Stock Dividend Requirements 2.3 2.2 2.3 2.5 1.9
=========== =========== =========== =========== ===========
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Three Months Year Ended December 31,
Ended --------------------------------------------------------
March 31, 1996 1995 1994 1993 1992
-------------- ----------- ----------- ----------- -----------
Income before extraordinary items $15,927,735 $51,921,799 $41,071,338 $35,159,112 $18,964,005
Add
Portion of rents representative of the
interest factor 841,220 1,451,048 104,918 167,263 282,690
Interest and related debt expenses 6,901,675 27,375,415 22,032,025 18,998,491 20,239,772
----------- ----------- ----------- ----------- -----------
23,670,630 80,748,262 63,208,281 54,324,866 39,486,467
Adjustment for equity share in partnerships 52,900 504,238 652,725 (2,067,263) 391,306
----------- ----------- ----------- ----------- -----------
Income before extraordinary items, as adjusted $23,723,530 $81,252,500 $63,861,006 $52,257,603 $39,877,773
Fixed Charges-
Interest and related debt expenses $6,901,675 $27,221,385 $21,877,995 $18,998,491 $20,239,772
Portion of rents representative of the
interest factor 841,220 1,451,048 104,918 167,263 282,690
----------- ----------- ----------- ----------- -----------
Fixed Charges $7,742,895 $28,672,433 $21,982,913 $19,165,754 $20,522,462
=========== =========== =========== =========== ===========
Ratio of Earnings to Fixed Charges 3.1 2.8 2.9 2.7 1.9
=========== =========== =========== =========== ===========