COMPUTATION OF RATIO OF FUNDS
Published on March 27, 2003
Exhibit 12.2
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, 2002
Funds from operations, available to common stockholders $ 319,680,669
Add:
Interest on indebtedness 85,771,695
Preferred stock dividends 18,437,700
Portion of rents representative of the
interest factor 5,910,534
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429,800,598
Adjustment for equity share in partnerships (51,891,970)
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Funds from operations, as adjusted $ 377,908,628
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Combined fixed charges and preferred stock dividends -
Interest on indebtedness $ 94,860,415
Preferred stock dividends 18,437,700
Portion of rents representative of the
interest factor 5,910,534
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Combined fixed charges and preferred stock dividends $ 119,208,649
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Ratio of Funds from Operations to Combined Fixed Charges
and Preferred Stock Dividends 3.2
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