Nine Months Ended September 30, 2017 | ||||
Earnings: | ||||
Income before equity in income of unconsolidated entities and income taxes | $ | 57,522 | ||
Gain on sales of real estate | 5,438 | |||
Fixed charges (from below) | 62,464 | |||
Amortization of capitalized interest | 1,968 | |||
Distributed income of equity investees | 1,122 | |||
Subtract: | ||||
Capitalized interest (from below) | (4,197 | ) | ||
Preferred distributions of other consolidated entities | (12 | ) | ||
Total earnings | $ | 124,305 | ||
Fixed charges: | ||||
Interest expense | $ | 57,772 | ||
Capitalized interest (internal and external) | 4,197 | |||
Interest included in rental expense | 483 | |||
Preferred distributions of other consolidated entities | 12 | |||
Total fixed charges | $ | 62,464 | ||
Ratio of earnings to fixed charges | 1.99 | |||