COMPUTATION OF RATIO OF FUNDS FROM OPERATIONS
Published on March 26, 1998
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, 1997
Funds from Operations, Available to Common Stockholders $98,183,170
Add:
Interest on indebtedness 30,745,963
Preferred stock dividends 18,437,700
Portion of rents representative of the
interest factor 2,070,049
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149,436,882
Adjustment for equity share in partnerships (1,629,172)
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Funds from Operations, as adjusted $147,807,710
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Combined fixed charges and preferred stock dividends-
Interest on indebtedness $31,262,146
Preferred stock dividends 18,437,700
Portion of rents representative of the
interest factor 2,070,049
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Combined fixed charges and preferred stock dividends $51,769,895
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Ratio of Funds from Operations to Combined Fixed Charges
and Preferred Stock Dividends 2.9
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