EXHIBIT 99.1
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
For the nine months ended September 30, 2003
Pretax earnings from continuing operations before adjustment for
minority interests or income loss from equity investees $ 159,558,581
Add:
Interest on indebtedness 71,995,707
Amortization of debt related expenses 3,271,806
Portion of rents representative of the
interest factor 3,745,694
--------------
238,571,788
Distributed income from equity investees 30,328,318
--------------
Pretax earnings from continuing operations, as adjusted $268,900,106
==============
Fixed charges -
Interest on indebtedness $78,293,548
Amortization of debt related expenses 2,698,593
Portion of rents representative of the
interest factor 3,745,694
--------------
Fixed charges $84,737,835
==============
Ratio of earnings to fixed charges 3.2
==============
Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
For the nine months ended September 30, 2003
Pretax earnings from continuing operations before adjustment for
minority interests or income loss from equity investees $ 159,558,581
Add:
Interest on indebtedness (excluding capitalized interest) 71,995,707
Amortization of debt related expenses 3,271,806
Portion of rents representative of the
interest factor 3,745,694
--------------
238,571,788
Distributed income from equity investees 30,328,318
--------------
Pretax earnings from continuing operations, as adjusted $268,900,106
==============
Combined fixed charges and preferred stock dividends -
Interest on indebtedness $78,293,548
Preferred stock dividends 11,759,323
Amortization of debt related expenses 2,698,593
Portion of rents representative of the
interest factor 3,745,694
--------------
Combined fixed charges and preferred stock dividends $96,497,158
==============
Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends 2.8
==============