COMPUTATION OF RATIO OF EARNINGS
Published on March 30, 1999
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to
Combined Fixed Charges and Preferred Stock Dividends
For the Year Ended December 31, 1998
Income before extraordinary items $ 127,166,331
Add:
Interest on indebtedness 63,547,946
Amortization of debt related expenses 1,680,197
Portion of rents representative of the
interest factor 6,655,956
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199,050,430
Adjustment for equity share in partnerships (1,830,854)
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Income before extraordinary items, as adjusted $ 197,219,576
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Combined fixed charges and preferred stock dividends-
Interest on indebtedness 64,723,874
Preferred stock dividends 24,653,847
Amortization of debt related expenses 1,564,883
Portion of rents representative of the
interest factor 6,655,956
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Combined fixed charges and preferred stock dividends 97,598,560
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Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends 2.0
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