Years Ended December 31, | ||||||||||||||||||||
Earnings: | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Income (loss) before equity in income of unconsolidated entities and income taxes | $ | 64,659 | $ | (26,419 | ) | $ | 120,812 | $ | 34,590 | $ | 36,704 | |||||||||
Gain on sales of real estate | 9,890 | 40,986 | 68,047 | 10,671 | 9,016 | |||||||||||||||
Fixed charges (from below) | 82,858 | 89,584 | 96,867 | 99,243 | 99,676 | |||||||||||||||
Amortization of capitalized interest | 2,631 | 2,715 | 2,591 | 2,374 | 1,977 | |||||||||||||||
Distributed income of equity investees | 1,496 | 732 | 361 | 225 | 1,857 | |||||||||||||||
Subtract: | ||||||||||||||||||||
Capitalized interest (from below) | (5,229 | ) | (5,723 | ) | (7,151 | ) | (6,065 | ) | (8,785 | ) | ||||||||||
Preferred distributions of other consolidated entities | (16 | ) | (16 | ) | (16 | ) | (16 | ) | (16 | ) | ||||||||||
Total earnings | $ | 156,289 | $ | 101,859 | $ | 281,511 | $ | 141,022 | $ | 140,429 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense on continuing operations | $ | 76,983 | $ | 83,163 | $ | 89,074 | $ | 92,393 | $ | 82,010 | ||||||||||
Interest expense on discontinued operations | — | — | — | — | 8,221 | |||||||||||||||
Capitalized interest (internal and external) | 5,229 | 5,723 | 7,151 | 6,065 | 8,785 | |||||||||||||||
Amortization of debt issuance costs-capitalized | — | — | 8 | 186 | 144 | |||||||||||||||
Interest included in rental expense | 630 | 682 | 618 | 583 | 500 | |||||||||||||||
Preferred distributions of other consolidated entities | 16 | 16 | 16 | 16 | 16 | |||||||||||||||
Total fixed charges | $ | 82,858 | $ | 89,584 | $ | 96,867 | $ | 99,243 | $ | 99,676 | ||||||||||
Ratio of earnings to fixed charges | 1.89 | 1.14 | 2.91 | 1.42 | 1.41 | |||||||||||||||