EXHIBIT 12A
KIMCO REALTY CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS
SIX MONTHS YEAR ENDED DECEMBER 31,
ENDED -----------------------------------------------------------------
JUNE 30, 1998 1997 1996 1995 1994 1993
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Income before extraordinary items....... $ 53,013,680 $ 85,836,445 $ 73,826,893 $51,921,799 $41,071,338 $35,159,112
Add
Portion of rents representative of the
interest factor.................... 3,170,074 2,070,049 2,482,917 1,451,048 104,918 167,263
Interest and related debt expenses.... 23,556,659 31,999,288 27,343,211 27,375,415 22,032,025 18,998,491
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79,740,413 119,905,782 103,653,021 80,748,262 63,208,281 54,324,866
Adjustment for equity share in
partnerships.......................... (397,875) (653,466) (349,642) 504,238 652,725 (2,067,263)
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Income before extraordinary items,
as adjusted...................... $ 79,342,538 $119,252,316 $103,303,379 $81,252,500 $63,861,006 $52,257,603
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Combined Fixed Charges and Preferred
Stock Dividend Requirements
Interest and related debt expenses.... $ 23,570,414 $ 32,403,241 $ 27,189,181 $27,221,385 $21,877,995 $18,998,491
Portion of rents representative of the
interest factor.................... 3,170,074 2,070,049 2,482,917 1,451,048 104,918 167,263
Preferred stock dividend
requirements....................... 9,653,474 18,437,700 16,134,475 7,630,556 5,812,500 1,582,125
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Combined Fixed Charges and
Preferred Stock Dividend
Requirements..................... $ 36,393,962 $ 52,910,990 $ 45,806,573 $36,302,989 $27,795,413 $20,747,879
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Ratio of Earnings to Combined Fixed
Charges and Preferred Stock Dividend
Requirements.......................... 2.2 2.3 2.3 2.2 2.3 2.5
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EXHIBIT 12A
KIMCO REALTY CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
SIX MONTHS YEAR ENDED DECEMBER 31,
ENDED -----------------------------------------------------------------
JUNE 30, 1998 1997 1996 1995 1994 1993
-------------- ------------ ------------ ----------- ----------- -----------
Income before extraordinary items....... $ 53,013,680 $ 85,836,445 $ 73,826,893 $51,921,799 $41,071,338 $35,159,112
Add
Portion of rents representative of the
interest factor.................... 3,170,074 2,070,049 2,482,917 1,451,048 104,918 167,263
Interest and related debt expenses.... 23,556,659 31,999,288 27,343,211 27,375,415 22,032,025 18,998,491
-------------- ------------ ------------ ----------- ----------- -----------
79,740,413 119,905,782 103,653,021 80,748,262 63,208,281 54,324,866
Adjustment for equity share in
partnerships.......................... (397,875) (653,466) (349,642) 504,238 652,725 (2,067,263)
-------------- ------------ ------------ ----------- ----------- -----------
Income before extraordinary items,
as adjusted...................... $ 79,342,538 $119,252,316 $103,303,379 $81,252,500 $63,861,006 $52,257,603
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Fixed charges
Interest and related debt expenses.... $ 23,570,414 $ 32,403,241 $ 27,189,181 $27,221,385 $21,877,995 $18,998,491
Portion of rents representative of the
interest factor.................... 3,170,074 2,070,049 2,482,917 1,451,048 104,918 167,263
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Fixed charges................. $ 26,740,488 $ 34,473,290 $ 29,672,098 $28,672,433 $21,982,913 $19,165,754
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Ratio of earnings to fixed charges...... 3.0 3.5 3.5 2.8 2.9 2.7
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