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, 1998
Funds from Operations, Available to Common Stockholders $ 153,746,542
Add:
Interest on indebtedness 63,547,946
Preferred stock dividends 24,653,847
Portion of rents representative of the
interest factor 6,655,956
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248,604,291
Adjustment for equity share in partnerships (2,618,549)
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Funds from Operations, as adjusted $ 245,985,742
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Combined fixed charges and preferred stock dividends-
Interest on indebtedness $ 64,723,874
Preferred stock dividends 24,653,847
Portion of rents representative of the
interest factor 6,655,956
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Combined fixed charges and preferred stock dividends $ 96,033,677
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Ratio of Funds from Operations to Combined Fixed Charges
and Preferred Stock Dividends 2.6
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