Three Months Ended March 31, 2017 | ||||
Earnings: | ||||
Income before equity in income of unconsolidated entities and income taxes | $ | 18,165 | ||
Gain on sales of real estate | 4,238 | |||
Fixed charges (from below) | 20,697 | |||
Amortization of capitalized interest | 645 | |||
Distributed income of equity investees | 379 | |||
Subtract: | ||||
Capitalized interest (from below) | (1,531 | ) | ||
Preferred distributions of other consolidated entities | (4 | ) | ||
Total earnings | $ | 42,589 | ||
Fixed charges: | ||||
Interest expense | $ | 18,994 | ||
Capitalized interest (internal and external) | 1,531 | |||
Interest included in rental expense | 168 | |||
Preferred distributions of other consolidated entities | 4 | |||
Total fixed charges | $ | 20,697 | ||
Ratio of earnings to fixed charges | 2.06 | |||