COMPUTATION OF RATIO OF FUNDS
Published on March 27, 2003
Exhibit 12.1
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges and
Preferred Stock Dividends
For the Year Ended December 31, 2002
Pretax earnings from continuing operations $ 261,473,589
Add:
Interest on indebtedness 85,771,695
Amortization of debt related expenses 3,060,946
Portion of rents representative of the
interest factor 5,910,534
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356,216,764
Adjustment for equity share in partnerships (34,113,135)
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Pretax earnings from continuing operations, as adjusted $ 322,103,629
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Combined fixed charges and preferred stock dividends -
Interest on indebtedness $ 94,860,415
Preferred stock dividends 18,437,700
Amortization of debt related expenses 2,504,105
Portion of rents representative of the
interest factor 5,910,534
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Combined fixed charges and preferred stock dividends $ 121,712,754
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Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends 2.6
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