CALCULATION OF RATIOS OF EARNING TO FIXED CHARGES
Published on May 22, 2001
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth the ratio of earnings to fixed charges
for the periods shown. The ratio of earnings to fixed charges was computed by
dividing earnings by fixed charges. 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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1.09 1.46
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Years Ended December 31,
2000 1999 1998 1997 1996
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1.38 1.61 1.62 1.82 1.98
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