Years Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) from continuing operations before equity in income (loss) of unconsolidated entities and income taxes | $ | 36,704 | $ | 8,894 | $ | (85,580 | ) | $ | 24,693 | $ | 47,924 | |||||||||
Gain on sales of real estate, excluding discontinued operations | 9,016 | 21 | 2,732 | 2,840 | — | |||||||||||||||
Combined fixed charges and preferred share dividends (from below) | 120,307 | 133,345 | 139,159 | 135,836 | 115,014 | |||||||||||||||
Amortization of capitalized interest | 1,977 | 1,798 | 1,610 | 1,363 | 1,105 | |||||||||||||||
Distributed income (loss) of equity investees | 1,857 | — | (31 | ) | — | — | ||||||||||||||
Subtract: | ||||||||||||||||||||
Capitalized interest (from below) | (8,785 | ) | (13,903 | ) | (17,400 | ) | (16,524 | ) | (15,461 | ) | ||||||||||
Preferred share dividends included in fixed charges | (19,971 | ) | (20,844 | ) | (16,102 | ) | (16,102 | ) | (16,102 | ) | ||||||||||
Preferred unit distributions included in fixed charges | (660 | ) | (660 | ) | (660 | ) | (660 | ) | (660 | ) | ||||||||||
Preferred distributions of other consolidated entities | (16 | ) | (16 | ) | — | — | — | |||||||||||||
Total earnings | $ | 140,429 | $ | 108,635 | $ | 23,728 | $ | 131,446 | $ | 131,820 | ||||||||||
Combined Fixed Charges and Preferred Share Dividends: | ||||||||||||||||||||
Combined fixed charges and preferred share dividends: | ||||||||||||||||||||
Interest expense on continuing operations | $ | 82,010 | $ | 86,401 | $ | 90,037 | $ | 87,551 | $ | 68,540 | ||||||||||
Interest expense on discontinued operations | 8,221 | 10,397 | 14,264 | 14,577 | 13,880 | |||||||||||||||
Capitalized interest (internal and external) | 8,785 | 13,903 | 17,400 | 16,524 | 15,461 | |||||||||||||||
Amortization of debt issuance costs-capitalized | 144 | 649 | 183 | 19 | 30 | |||||||||||||||
Interest included in rental expense | 500 | 475 | 513 | 403 | 341 | |||||||||||||||
Preferred share dividends | 19,971 | 20,844 | 16,102 | 16,102 | 16,102 | |||||||||||||||
Preferred unit distributions | 660 | 660 | 660 | 660 | 660 | |||||||||||||||
Preferred distributions of other consolidated entities | 16 | 16 | — | — | — | |||||||||||||||
Total combined fixed charges and preferred share dividends | $ | 120,307 | $ | 133,345 | $ | 139,159 | $ | 135,836 | $ | 115,014 | ||||||||||
Ratio of earnings to combined fixed charges and preferred share dividends | 1.17 | 0.81 | 0.17 | 0.97 | 1.15 | |||||||||||||||
Deficiency | $ | 24,710 | $ | 115,431 | $ | 4,390 | ||||||||||||||