| 2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
Earnings |
||||||||||||||||||||
Income from continuing operations before minority interests and income from unconsolidated entities |
$195,083 | $172,843 | $90,504 | $81,508 | $84,582 | |||||||||||||||
Add: |
||||||||||||||||||||
Fixed charges |
231,867 | 223,707 | 206,357 | 188,205 | 186,955 | |||||||||||||||
Amortization of capitalized interest |
2,770 | 2,044 | 1,577 | 1,364 | 1,191 | |||||||||||||||
Distributed income from unconsolidated entities |
4,875 | 2,752 | 2,971 | 5,345 | 6,423 | |||||||||||||||
Less: |
||||||||||||||||||||
Interest capitalization |
(42,938 | ) | (29,503 | ) | (18,687 | ) | (8,526 | ) | (6,919 | ) | ||||||||||
Total earnings |
391,657 | 371,843 | 282,722 | 267,896 | 272,232 | |||||||||||||||
Fixed
charges |
||||||||||||||||||||
Interest on indebtedness (including amortization of premiums and financings costs) |
163,690 | 164,700 | 160,067 | 148,798 | 151,027 | Interest capitalized |
42,938 | 29,503 | 18,687 | 8,526 | 6,919 | |||||||||
Portion of rents representative of the interest factor |
8,777 | 8,031 | 7,442 | 6,274 | 3,860 | Preferred distributions of consolidated subsidiaries |
16,462 | 21,473 | 20,161 | 24,607 | 25,149 | |||||||||
Total fixed charges |
231,867 | 223,707 | 206,357 | 188,205 | 186,955 | |||||||||||||||
Preferred stock dividends |
13,582 | 7,388 | 7,131 | 6,999 | 8,496 | |||||||||||||||
Total fixed charges and preferred stock dividends |
$245,449 | $231,095 | $213,488 | $195,204 | $195,451 | |||||||||||||||
Earnings to fixed charges and preferred stock dividends |
1.6 | X | 1.6 | X | 1.3 | X | 1.4 | X | 1.4 | X | ||||||||||