SL Green Realty Corp.
Ratio of Earnings to Fixed Charges and Preferred Stock Dividend
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Year Ended December 31, |
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Three Months Ended March 31, 2004 |
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2003 |
2002 |
2001 |
2000 |
1999 |
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| Earnings | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 9,347 | $ | 60,505 | $ | 53,558 | $ | 49,005 | $ | 45,988 | $ | 44,394 | |||||||
| Add: JV cash distributions | 9,485 | 36,469 | 22,482 | 26,909 | 25,550 | — | |||||||||||||
| Interest | 14,613 | 44,001 | 33,946 | 42,411 | 37,729 | 26,626 | |||||||||||||
| Portion of rent expense representative of interest | 2,277 | 9,187 | 9,304 | 9,394 | 9,434 | 9,461 | |||||||||||||
| Total earnings | $ | 35,722 | $ | 150,161 | $ | 119,290 | $ | 127,719 | $ | 118,701 | $ | 80,481 | |||||||
| Fixed Charges and Preferred Stock Dividends | |||||||||||||||||||
| Interest | 14,613 | 44,001 | 33,946 | 42,411 | 37,729 | 26,626 | |||||||||||||
| Preferred stock dividends | 3,000 | 7,712 | 9,690 | 9,658 | 9,626 | 9,598 | |||||||||||||
| Interest capitalized | — | — | — | — | — | — | |||||||||||||
| Portion of rent expense representative of interest | 2,277 | 9,187 | 9,304 | 9,394 | 9,434 | 9,461 | |||||||||||||
| Amortization of loan costs expensed | 782 | 3,844 | 3,427 | 3,608 | 3,388 | 2,268 | |||||||||||||
| Total Fixed Charges and Preferred Stock Dividends | $ | 20,672 | $ | 64,743 | $ | 56,367 | $ | 65,071 | $ | 60,177 | $ | 47,953 | |||||||
| Ratio of earnings to combined fixed charges and preferred stock dividends | 1.73 | x | 2.32 | x | 2.12 | x | 1.96 | x | 1.97 | x | 1.68 | x | |||||||