EXHIBIT
Published on November 12, 2013
Exhibit 12.2
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Nine months ended
September 30,
|
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2013 |
2012 |
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Earnings: |
|||||||
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests (1)
|
$ |
80,078 |
$ |
40,336 |
|||
Add: |
|||||||
Distributed income of unconsolidated joint ventures |
4,415 |
740 |
|||||
Amortization of capitalized interest |
384 |
382 |
|||||
Interest expense |
37,826 |
37,062 |
|||||
Portion of rent expense - interest factor |
1,527 |
1,552 |
|||||
Total earnings |
124,230 |
80,072 |
|||||
Fixed charges: |
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Interest expense |
37,826 |
37,062 |
|||||
Capitalized interest and capitalized amortization of debt issue costs |
976 |
1,031 |
|||||
Portion of rent expense - interest factor |
1,527 |
1,552 |
|||||
Total fixed charges |
$ |
40,329 |
$ |
39,645 |
|||
Ratio of earnings to fixed charges |
3.1 |
2.0 |
1.
|
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests for the period ended September 30, 2013, includes a $26.0 million gain on a previously held interest in an acquired joint venture. |