CALCULATION OF RATIOS
Published on May 22, 2001
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
The following table sets forth the ratio of earnings to combined fixed charges
and preferred share dividends for the periods shown. The ratio of earnings to
fixed charges and preferred share dividends was computed by dividing earnings by
fixed charges and preferred share dividends. For this purpose, earnings consist
of net income before income before gain or (loss) on sale of real estate,
minority interest and extraordinary items plus fixed charges. Fixed charges
consist of interest costs (including capitalized interest), amortization of debt
issuance costs and that portion of rental expense estimated to be attributed to
interest.
Three Months Ended March 31,
2001 2000
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1.03 1.37
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Years Ended December 31,
2000 1999 1998 1997 1996
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1.30 1.50 1.50 1.66 1.71
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