Six Months Ended June 30, 2018 | ||||
Earnings: | ||||
Income before equity in income of unconsolidated entities and income taxes | $ | 39,264 | ||
Gain on sales of real estate | (27 | ) | ||
Fixed charges (from below) | 40,827 | |||
Amortization of capitalized interest | 1,332 | |||
Distributed income of equity investees | 749 | |||
Subtract: | ||||
Capitalized interest (from below) | (2,771 | ) | ||
Preferred distributions of other consolidated entities | (7 | ) | ||
Total earnings | $ | 79,367 | ||
Fixed charges: | ||||
Interest expense | $ | 37,729 | ||
Capitalized interest (internal and external) | 2,771 | |||
Interest included in rental expense | 320 | |||
Preferred distributions of other consolidated entities | 7 | |||
Total fixed charges | $ | 40,827 | ||
Ratio of earnings to fixed charges | 1.94 | |||