Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Funds from Operations
to Combined Fixed Charges and Preferred Stock Dividends
For the Year Ended December 31, 1996
Funds from Operations, Available to Common Stockholders $85,105,975
Add:
Interest on indebtedness 26,039,374
Preferred stock dividends 16,134,475
Portion of rents representative of the
interest factor 2,482,917
----------------
129,762,741
Adjustment for equity share in partnerships (1,498,445)
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Funds from Operations, as adjusted $128,264,296
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Combined fixed charges and preferred stock dividends-
Interest on indebtedness $26,039,374
Preferred stock dividends 16,134,475
Portion of rents representative of the
interest factor 2,482,917
----------------
Combined fixed charges and preferred stock dividends $44,656,766
================
Ratio of Funds from Operations to Combined Fixed Charges
and Preferred Stock Dividends 2.9
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