EXHIBIT 12.2
Published on August 2, 2018
Exhibit 12.2
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Six months ended June 30, |
|||||||
2018 |
2017 |
||||||
Earnings: |
|||||||
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests (1)
|
$ |
43,575 |
$ |
49,769 |
|||
Add: |
|||||||
Distributed income of unconsolidated joint ventures |
4,332 |
4,952 |
|||||
Amortization of capitalized interest |
385 |
340 |
|||||
Interest expense |
31,981 |
33,007 |
|||||
Portion of rent expense - interest factor |
1,189 |
1,201 |
|||||
Total earnings |
81,462 |
89,269 |
|||||
Fixed charges: |
|||||||
Interest expense |
31,981 |
33,007 |
|||||
Capitalized interest and capitalized amortization of debt issue costs |
76 |
1,247 |
|||||
Portion of rent expense - interest factor |
1,189 |
1,201 |
|||||
Total fixed charges |
$ |
33,246 |
$ |
35,455 |
|||
Ratio of earnings to fixed charges |
2.5 |
2.5 |
|||||
Earnings: |
|||||||
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests (1) |
$ |
43,575 |
$ |
49,769 |
|||
Add: |
|||||||
Distributed income of unconsolidated joint ventures |
4,332 |
4,952 |
|||||
Amortization of capitalized interest |
385 |
340 |
|||||
Interest expense |
31,981 |
33,007 |
|||||
Portion of rent expense - interest factor |
1,189 |
1,201 |
|||||
Total earnings |
81,462 |
89,269 |
|||||
Fixed charges and preferred unit distributions: |
|||||||
Interest expense |
31,981 |
33,007 |
|||||
Capitalized interest and capitalized amortization of debt issue costs |
76 |
1,247 |
|||||
Portion of rent expense - interest factor |
1,189 |
1,201 |
|||||
Preferred unit distributions |
— |
— |
|||||
Total combined fixed charges and preferred unit distributions |
$ |
33,246 |
$ |
35,455 |
|||
Ratio of earnings to combined fixed charges and preferred unit distributions |
2.5 |
2.5 |
(1) |
Income before equity in earnings of unconsolidated joint ventures and noncontrolling interests includes a $6.9 million gain on the sale of our outlet center in Westbrook, Connecticut for the period ended June 30, 2017. |